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Chemical Week Magazine :: Business & Finance :: Asia/Pacific

China’s Biggest Producer of Rare Earths Suspends Production for One Month

10:32 AM MDT | October 31, 2011 | —IAN YOUNG

Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. (Baotou, China), the world’s biggest producer of rare earths, says it suspended rare earth smelting and separation work for one month, starting October 19. The move is intended to shore up rare earth prices, which have sagged recently. It aims to “balance supply and demand,” the company said in a recent filing with the Shanghai stock exchange. Baotou Steel Rare-Earth Hi-Tech Co. accounts for almost 50% of global output of light rare earths. International prices for rare earths soared in 2010 and...

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