(China Daily – Zhou Yan and Zhang Qi)
Minmetals calls on industry to adhere to government guidelines
The rare-earth processor China Minmetals Nonferrous Metals Co said it is planning to halt output to adhere to the country’s mandatory production limit.
That comes amid a recent stabilization of rare-earth prices, which have surged fourfold since the start of this year.
The company, which has an annual rare-earth processing capacity of 14,000 tons, “hasn’t decided when will be the specific date to halt production”, anonymous sources from the company’s marketing department was quoted by National Business Daily as saying on Tuesday.
The non-ferrous arm of State-owned China Minmetals Corp, the nation’s biggest metals trading firm, issued an appeal on Tuesday to other domestic rare-earth processing plants to also avoid illegal over-production. The appeal came after the nation’s annual output limit for smelting and processing rare-earths products had been reached. Read more here.