The Conversation (0)
Xinhua reported that since opening in March, China’s first rare earth exchange has been in good operation, with over 9,700 tonnes of rare earths having been traded since the end of September.
Xinhua reported that since opening in March, China’s first rare earth exchange has been in good operation, with over 9,700 tonnes of rare earths having been traded since the end of September.
As quoted in the publication:
Yang Zhanfeng, dean of Baotou Research Institute of Rare Earths, said that the exchange has effectively regulated the industry of the precious ore and enhanced transparency, as companies all trade on the same platform with the same standard.
China is the world’s largest rare earth producer and exporter, accounting for more than 90 percent of the world’s supply. However, the country lacks pricing power in the global market and wild price swings of resources have had a negative effect on Chinese producers.