Baotou Third Quarter Profits Plummet

Reuters reported that Chinese rare earth producer  Baotou Steel Rare-Earth (Group)’s Q3 profits fell by 90 percent.

As quoted in the market report:

Inner Mongolia-based Baotou Steel Rare-Earth (Group) Hi-Tech Co, China’s top rare earths producer, reported the following results for the period from July through September (in millions of yuan unless stated otherwise):               Q3 2012     Q3 2011

Net profit                    120       1,153

Revenue                     1,965       4,111

To view the whole Reuters report, click here.