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Baotou rare-earth units to resume production in Mar., report
BEIJING, Feb 22, 2013 (Xinhua via COMTEX) --
Inner Mongolia Baotou Steel Rare-earth
(Group) Hi-tech Co. Ltd (600111.SH), China's biggest rare-earth produ
cer, said its rare-earth roasting and smelting separation companies wo
uld resume production in March after a suspension of nearly four month
s, the Xinhua-run Shanghai Securities News reported on Friday.
Industry insiders comment the rare-earth producer's decision sends
a signal that rare-earth prices have already dropped to the bottom and
have limited room for any further decline.
At present, prices of the majority of rare earths have dropped to t
he level at the beginning of 2011. Some analysts believe that prices o
f rare earths will have limited room for a further drop.
However, some industry insiders still hold conservative views about
the demand recovery. Most of medium and small-sized rare-earth compan
ies still take a wait-and-see attitude and say they will not expand pr
oduction before they see clear signs that demand is recovering.
Earlier, in response to the sluggish rare-earth market, the rare-ea
rth producer required its units to suspend production from October 23
of last year.
Following production suspension by Baotou Steel Rare Earth, many
other rare-earth companies, such as the China Minmetals Rare Earth Cor
p., Chinalco Rare Earth (Jiangsu) Corp., and China Nonferrous Metal Mi
ning also followed suit with production halts in a bid to rally prices
. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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