metalsplace.com
Rocketing price sweetens rare earth market
Source: SinoCast
See also
Rare Earth Board
Rare Earth Catalog
The price of extractive mine of rare earth soared to CNY 2,600 and even CNY 2,800 per ton in the first half of this year from CNY 2,000 recorded in 2005-end, with a surge of 30% to 40%.
So did the price of carbonic acid rare earth, spurting to CNY 7,800-8,800 per ton from the 2005-end of CNY 5,500-6,500, sharply up 35%, while the prices of oxidation neodymium and praseodymium respectively rocketed to CNY 130,000 and CNY 110,000.
Rare Earth Hi-tech (600111), a representative of rare earth industry, has earned revenues from major business of CNY 563.11 million by June-end, ascending 31.39% year over year, and the profits from that reached CNY 89.48 million, fiercely mounting 64%. The net profits were up to CNY 20.68 million, with a shocking increase of 186.91%. The net cash flow got to CNY 81.715 million, rocketing 313.9% and the earnings per share was CNY 0.015.
The company sold nearly 30,000 tons of the extractive mines in first-half period, with gross profit margin up to 55.04% and contributing 45% of the profit |
