Last week, the price of rare earths soared again. The price of rare-earth metal lanthanum rose by 23% a week. As of May 27, it rose to 1.184 million yuan/ton. The price of rare-earth metal lanthanum rose 30% in the week and rose to 7690 yuan/kg as of May 27. Other rare earth metals also have risen in different magnitudes.
If national rare earth directive production plans can be implemented this year, rare earth prices may continue to soar in the second half of the year. "According to our current production plan, we will run out of indicators for the whole of August and September. If the government strictly enforces the law, it may be forced to suspend production." An insider of a rare earth smelting company in Jiangxi told reporters yesterday.
In the face of high rare earth prices and profits, Jiangxi rare earth producers are currently not producing according to national plans. According to the rare earth data released by the Jiangxi Provincial Commission of Industry and Information Technology, from January to April this year, the output of Jiangxi's single rare earth metal was 5694 tons, an increase of 30.15% over the same period of last year. If produced according to this plan, the annual output will far exceed the national directive plan.
Excessive production
According to the insider of Jiangxi Jiangxi Rare Earths Smelting Company, if 5,694 tons of rare earth metal were converted to rare earth oxides, the output would be around 6,600 tons.
If this trend is to be produced, Jiangxi’s production of rare earth oxides will approach 20,000 tons this year, which means that Jiangxi’s rare earth products will once again surpass the directive production plan for rare earth production issued by the Ministry of Industry and Information Technology at the beginning of the year. This year, the Ministry of Industry and Information Technology has given Jiangxi Province an output of 13,000 tons of rare earth oxides.
In the past few years, the Ministry of Land and Resources issued an annual rare earth-based plan for the exploitation of indicators almost without the implementation of companies and local governments. The actual annual output far exceeds the planned output, resulting in oversupply of the market and low prices.
Since 2005, China's rare earth production has exceeded 100,000 tons for five consecutive years. In 2008, it produced a total of 124,800 tons. In 2009, it also reached 120,000 tons.
The same is true for 2010. The Ministry of Land and Resources has set a total control index of 89,200 tons of rare earths in that year, including 77,000 tons of light rare earths and 12,200 tons of medium- and heavy-earth rare earths. Although the country has not yet announced its output for the past year, it must exceed 100,000 tons.
Jiangxi another high-level rare earth company told this newspaper, Jiangxi rare earth production was also about 20,000 tons last year. According to the insider of Jiangxi Jiangxi Rare Earths Smelting Company, “Everyone did not go to production according to the index plan. Before this year, everyone did not receive any indicators and the government did not give us annual targets.â€
Although the Ministry of Land and Resources issued a mandatory plan, due to inadequate supervision, local governments did not impose mandatory supervision on rare earth production due to factors such as increasing taxes and GDP.
Under the influence of output and price, in the first quarter of this year, Jiangxi's rare earth profits and taxes continued to increase substantially. From January to March, the main business income was 4.949 billion yuan, an increase of 83% year-on-year, accounting for 1.4% of the province's industrial revenue; profits and taxes of 934 million yuan, year-on-year An increase of 166%, accounting for 3.54% of the province; tax 298 million yuan, an increase of 99%, accounting for 1.71% of the province's industry.
This year's strict law enforcement?
According to the insider of Jiangxi Jiangxi Rare Earths Smelting Company, the difference from previous years is that this year the company received indicators issued by the local government, requiring the company's output this year not to exceed the number of indicators. Other companies also received the indicator plan.
According to him, at present Jiangxi Jiangxi rare earth company is in accordance with their own plans to produce, may be completed in August or so will be completed this year's mandatory production plan, "Now Jiangxi Jiangxi rare earth company are passing, if the August and September indicators run out, National and local law enforcement is strict and Jiangxi rare earth smelting company may stop production."
Jiangxi is the main producing area of ​​medium- and heavy-earth rare earths. Compared with light rare earths in the north, medium-heavy rare earth production is less and the price is high. Heavy rare earth is also the most distinctive rare earth species in China. Although other countries also have rare earths, they are mainly light rare earths.
Since the beginning of this year, government agencies have issued regulatory policies on rare earth industries. On May 19, the State Council was the first to publish “Several Opinions on Promoting the Sustainable and Healthy Development of the Rare Earth Industryâ€.
Professor Wang Guozhen of the China Nonferrous Engineering Research Institute told the newspaper that the key to managing a rare earth industry is policy implementation.
According to the insider of the Jiangxi Rare Earths Smelting Company, “At present, the rare earth price is high, and companies are unwilling to lower prices. Everyone hopes to produce less and make more money. It is a good thing to reduce production, but the key lies in the fact that government law enforcement must be fair to all enterprises. Treating them equally will benefit the healthy development of the market.â€
At present, the Inner Mongolia region is proceeding with a substantial shutdown of SMEs, leading the industry to concentrate on advantageous enterprises, and plans to shut down 31 rare earth smelting and separation enterprises that are not fully formalized within the province. He believes that "if the government strictly enforces the law, the output of rare earth in the country can be reduced."
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