Economy
Financial Markets
Commodities
Industries
Energy
Real Estate
Local listed Company
Overseas-listed Company
Foreign Company
Industrial Parks

 
Economy
 Search News  Or
China to reduce rare earth export quota by 72%

Jul. 12, 2010 (China Knowledge) - China, the world's largest rare-earth producer, will cut export quotas by 72% in the second half of 2010, after the central government's plan to integrate the rare earth price in the domestic market, the China Daily reported.

Pursuant to the new amendment, shipments of rare earth will be capped at 7,976 metric tons, down from 28,417 tons for the same period a year ago.

"The rare earths industry officials realized that, the rare earth industry didn't receive proper profit returns after so many years continued export," Liu Aisheng, director of the Chinese Society of Rare Earth, said in an interview.

Baotou Steel Rare-Earth Hi-Tech Co<600111>, the Inner Mongolia-based and also the biggest domestic rare earth producer, fell 1% to RMB 35.80 on the Shanghai exchange after receiving the news.

Baotou Steel is also one of the 32 local and foreign companies that are permitted to export rare earth in the second half.   







Copyright © "2013" www.chinaknowledge.com

Send feedback or comments to: news@chinaknowledge.com

For more news, financial weekly reports, business guides to China, Market Research Reports and other premium information, subscribe to China Knowledge today

To access our page on Bloomberg, type CKFI (GO)

 Our Professional Services
 News Archive
About Us | CSR | Media Center | E-Newsletter | E-Store | Contact Us | Feedback | Sitemap | Privacy Policy | Terms of Use  

           Copyright © 2014 China Knowledge Online. All Rights Reserved