Keywords : Steel, ferrous metal, Yttrium metal, Europium, Neodymium
The prices of rare earth resources fluctuated greatly in China in 2011. The Chinese government constantly introduced industrial policies in H1 to improve the environmental standards and control the export, which resulted in the declining output and mounting price of rare earth. As of June 17, 2011, among the light rare earth products, metal neodymium enjoyed the highest price which grew 418% to RMB1.7785 million/ton. In H2, the roaring pri...
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The prices of rare earth resources fluctuated greatly in China in 2011. The Chinese government constantly introduced industrial policies in H1 to improve the environmental standards and control the export, which resulted in the declining output and mounting price of rare earth. As of June 17, 2011, among the light rare earth products, metal neodymium enjoyed the highest price which grew 418% to RMB1.7785 million/ton.
In H2, the roaring price of rare earth was unbearable for downstream enterprises, so the demand weakened. Since July 2011, the price began to fall and enterprises started dumping products, leading to the further drop in price. In particular, the price of europium oxide plummeted to RMB12,750/kg in January 2012 from RMB29,975/kg in mid-July 2011, down 79.8%.
Overall, the price of rare earth maintained a high growth rate and rare earth enterprises significantly improved their operation results in 2011. Benefiting from the rising price of rare earth, upstream enterprises witnessed a substantial increase in operating revenue. For instance, the operating revenue of Baotou Steel Rare Earth (Group) Hi-Tech broke RMB10 billion in Q1-Q3 2011, up 175% YoY.
Although rare earth deep-processing enterprises faced the pressure of rising raw material prices, they successfully shifted the costs to the downstream, which dramatically brought up the product price and made their operating revenue soar. For example, the operating revenue of Zhong Ke San Huan grew 128% YoY to RMB3.895 billion, and the net income surged 224% YoY to RMB447 million in Q1-Q3 2011.
The report mainly focuses on industry policies, market status, export and market size & demand forecast of downstream applications concerning rare earth in China and analyzes 10 upstream and midstream enterprises including Baotou Steel Rare Earth (Group) Hi-Tech and 6 rare earth deep-processing enterprises such as Zhong Ke San Huan.
Baotou Steel Rare Earth (Group) Hi-Tech Co., Ltd., the leader of Chinese rare earth industry, possesses a complete industrial chain of rare earth ore dressing, smelting, separation, research, deep processing and application. The company basically accomplished the integration of rare earth resources in northern regions in 2011, and became the solely professional rare earth enterprise in Inner Mongolia, In the future, it will focus on the development of such rare earth functional materials as NdFeB and polishing powder. In H1 2011, magnetic products contributed RMB660 million to the company’s revenue and became the new growth engine for the company’s profit. In 2011, the company’s polishing material expansion (relocation) project was completed and the capacity was increased to 5 kilotons.
Zhong Ke San Huan, the largest NdFeB manufacturer in China, is also the world’s second largest NdFeB supplier. The company boasts of 13.5 kt NdFeB capacity, including 12kt sintered NdFeB and 1.5kt bonded NdFeB. In February 2011, Zhong Ke San Huan raised RMB584 million for the technological transformation project of 6kt high-end NdFeB products. Upon completion, the proportion of the company’s high-performance NdFeB products will increase to approximately 73% from the current 60%.
Metal Mining Industry in China
Table of Contents
1. Overview of Rare Earth Industry
1.1 Definition & Classification
1.2 Industry Chain
2. Development Environment of China’s Rare Earth Industry
2.1 Global Rare Earth Industry Development
2.1.1 Reserves and Distribution
2.1.2 Development of Rare Earth Mines Overseas
2.1.3 Supply
2.1.4 Demand
2.2 China’s Rare Earth Industry Policy Adjustment
2.2.1 Production Policy
2.2.2 Foreign Investment Policy
2.2.3 Export Policy
2.2.4 Industrial Integration Policy
2.2.5 Special Invoice System
2.2.6 Policy Adjustments Target
3. China’s Rare Earth Industry Development
3.1 Reserves and Distribution
3.2 Development in Major Regions
3.2.1 Inner Mongolia
3.2.2 Sichuan
3.2.3 Shandong
3.2.4 Jiangxi
3.2.5 Guangdong
3.2.6 Fujian
3.2.7 Guangxi
4. China’s Rare Earth Industry Market Supply and Demand
4.1 Supply & Demand
4.1.1 Rare Earth Ore Production
4.1.2 Rare Earth Smelting and Separation
4.1.3 Demand
4.2 Export
4.2.1 Export Quota
4.2.2 Export Scale
4.2.3 Export Structure
4.3 Market Price
4.3.1 Price in 2011
4.3.2 Prices of Major Middle & Heavy Rare Earth Metal Products
4.3.3 Prices of Major Light Rare Earth Metal Products
5. Application of Rare Earth Metals
5.1 Traditional Application Fields
5.2 Magnetic Materials
5.2.1 Main Application Fields
5.2.2 Market Supply & Demand
5.2.3 Market Competition
5.3 Hydrogen Storage Materials
5.3.1 Market Scale
5.3.2 Market Competition
5.4 Polishing Materials
5.4.1 Market Scale
5.4.2 Market Competition
5.5 Luminescent Materials
5.5.1 Main Application Fields
5.5.2 Market Supply & Demand
5.5.3 Market Competition
6. Key Enterprises
6.1 Inner Mongolia Baotou Steel Rare-earth (Group) High-Tech Co., Ltd.
6.1.1 Profile
6.1.2 Operation
6.1.3 Development Plan
6.2 China Minmetals Non-ferrous Metals Co. Ltd. (CMN)
6.2.1 Profile
6.2.2 Operation
6.2.3 China Minmetals Rare Earth Co., Ltd.
6.2.4 Jiangxi Tungsten Industry Group
6.3 China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd.
6.3.1 Profile
6.3.2 Operation
6.3.3 Development Plan
6.4 Guangdong Rising Nonferrous Metals Group
6.4.1 Profile
6.4.2 Operation
6.4.3 Development Plan for 2011-2013
6.5 Xiamen Tungsten
6.5.1 Profile
6.5.2 Operation
6.5.3 Rare Earth Business
6.6 Hunan Rare Earth Metal & Material Institute
6.7 Leshan Shenghe Rare Earth Technology Co., Ltd.
6.7.1 Profile
6.7.2 Operation
6.7.3 Development Plan
6.8 China Rare Earth Holdings Limited
6.8.1 Profile
6.8.2 Operation
6.8.3 Development Plan
6.9 Grirem Advanced Materials
6.9.1 Profile
6.9.2 Operation
6.10 Jiahua Advanced Material Resources
7. Major Rare Earth New Material Enterprises of China
7.1 Zhong Ke San Huan
7.1.1 Profile
7.1.2 Expansion of Industry Chain
7.1.3 Operation
7.1.4 Development Plan
7.2 Ningbo Yunsheng
7.2.1 Profile
7.2.2 Operation
7.3 Taiyuan Twin-Tower Aluminum Oxide
7.3.1 Profile
7.3.2 Operation
7.4 Shannxi IRICO
7.4.1 Profile
7.4.2 Operation
7.4.3 Development Plan
7.5 Jiangmen KanHoo
7.5.1 Profile
7.5.2 Operation
7.5.3 Development Plan
7.6 Gansu Rare Earth New Material
7.6.1 Profile
7.6.2 Development Plan
Selected Charts
Rare Earth Classification
Rare Earth Industry Chain
Rare Earth Ore Classification
Global Distribution of Rare Earth Reserves, 2010
Reserves and Development Stage of Main Rare Earth Mines Overseas, 2010
Capacity of Major Rare Earth Mines Overseas, 2012-2015E
Global Rare Earth Output by Country, 2009-2010
Global Rare Earth Supply and Demand, 2005-2015E
Global Rare Earth Consumption, 2003-2015E
Global Rare Earth Consumption Structure by Country, 2010
Global Rare Earth Consumption Structure, 2010
Major Rare Earth Industrial Policies Released by China, 2002-2011
China’s Rare Earth Mining Volume Control Index, 2007-2011
Rare Earth Products Prohibited from Processing Trade in China, 2010
China’s Export Taxes on Rare Earth Products, 2011-2012
Distribution of Rare Earth Resources in China
Rare Earth Element Content of Main Rare Earth Deposits in China
Directive Output of Rare Earth Products in China by Region, 2011
China’s Rare Earth Ore Output (REO), 2005-2011E
Capacity of Main Rare Earth Mine Enterprises in China, 2009
Output of Rare Earth Smelting and Separation Products of China, 2004-2011
First Batch of Rare Earth Enterprises Passing Environmental Review
China’s Rare Earth Consumption, 2006-2015E
China’s Rare Earth Export Quota, 2005-2012
First Batch of Rare Earth Export Enterprises and Export Quota in China, 2012
Preserved Volume of the First Batch of Rare Earth Export Quota, 2012
Export Volume of Rare Earth Products of China, 2006-2011
Export Value of Rare Earth Products of China, 2006-2011
Export Structure of Rare Earth Products of China by Product, 2006-2011
Export Structure of Rare Earth Products of China by Country, 2009-2011
Growth in Market Prices of Major Rare Earth Products of China, H1 2011
Decline in Market Prices of Main Rare Earth Products of China, H2 2011
Spot Market Price of Dy Oxide of China, 2005-2012
Spot Market Price of Dy Metal of China, 2005-2012
Spot Market Price of Er Oxide of China, 2009-2012
Spot Market Price of Eu Oxide of China, 2005-2012
FOB Price of Eu Metal of China, 2005-2012
Market Price of Gd Oxide of China, 2010-2012
Spot Market Price of Sm Metal of China, 2005-2012
FOB Price of Sm Oxide of China, 2005-2012
Spot Market Price of Tb Metal of China, 2005-2012
Spot Market Price of Tb Oxide of China, 2005-2012
FOB Price of Yttrium Metal of China, 2005-2012
Spot Market Price of Yttrium+europium Oxide of China, 2005-2012
Spot Market Price of Ce Oxide of China, 2005-2012
Spot Market Price of Nd Oxide of China, 2005-2012
Spot Market Price of La Oxide of China, 2005-2012
Spot Market Price of Pr Oxide of China, 2005-2012
Spot Market Price of PrNd Oxide of China, 2005-2012
Spot Market Price of Nd Metal of China, 2005-2012
Spot Market Price of La Metal of China, 2005-2012
FOB Price of Pr Metal of China, 2001-2012
Spot Market Price of Ce Metal of China, 2005-2012
Application Structure of Rare Earth in Traditional Consumption Fields in China, 2010
Application Structure of Rare Earth in New Material Fields in China, 2010
Application of Rare Earth Elements in Rare-earth Permanent Magnet Material
Market Structure of NdFeB by Application in China, 2009
Market Scale of NdFeB for Electric Vehicle in China, 2010-2020E
Market Scale of NdFeB for Wind Generator, 2008-2014E
Market Scale of NdFeB for Frequency Conversion Air-Conditioner, 2010-2015E
Capacity of Major NdFeB Manufacturers in China, 2011
Application of Rare Earth Elements in Rare-earth Hydrogen Storage Material
Major Rare Earth Hydrogen Storage Material Enterprises in China, 2011
Application of Rare Earth Elements in Rare Earth Polishing Material
Major Rare Earth Polishing Material Enterprises in China, 2011
Application of Rare Earth Elements in Rare Earth Luminescent Material
Application Fields of Rare Earth Luminescent Materials
Global Rare Earth Luminescent Material Consumption Structure, 1993-2009
Capacity of Rare-Earth Luminescent Materials of China, 2006-2013E
Market Demand for Rare Earth Luminescent Materials Applied in Energy-saving Lamps in China, 2006-2013E
Demand for Rare Earth Luminescent Materials from Panel Display Products
Market Demand for Rare Earth Luminescent Materials Applied in Panel Displays, 2006-2013E
Market Demand for Rare Earth Luminescent Materials Applied in Special Light Source, 2006-2013E
Major Rare Earth Luminescent Material Enterprises in China, 2011
Main Products of Inner Mongolia Baotou Steel Rare-earth (Group)
Operating Revenue and Net Income of Inner Mongolia Baotou Steel Rare-earth (Group), 2006-2011
Operating Revenue Structure of Inner Mongolia Baotou Steel Rare-earth (Group) by Product, 2009-2011
Gross Margin of Inner Mongolia Baotou Steel Rare-earth (Group) by Product, 2009-2011
Operating Revenue and Total Profit of CMN, 2005-2009
Leading Rare Earth Products and Capacity of China Minmetals Rare Earth by Subsidiary
Major Rare Earth Subsidiaries of Jiangxi Tungsten
Operating Revenue of Jiangxi Tungsten, 2009-2015E
Profit Structure of Jiangxi Tungsten by Business, 2011
Rare Earth Processing Capacity of NFC, 2007-2011
Operating Revenue and Profit of the Rare Earth Business of NFC, 2007-2011
Production Scale of Major Rare Earth Subsidiaries of Guangdong Rising Nonferrous Metals Group
Operating Revenue and Net Income of Guangdong Rising Nonferrous Metals Group, 2009-2011
Revenue of Guangdong Rising Nonferrous Metals Group by Product, 2009-2011
Rare Earth Industry Investment of Guangdong Rising Nonferrous Metals Group, 2010
Operating Revenue and Net Income of Xiamen Tungsten, 2005-2011
Operating Revenue and Net Income of Changting Jinlong Rare Earth, 2009-2011
Major Rare Earth Projects Operated by Hunan Rare-Earth Metal Research Institute
Operating Revenue of Shenghe Rare Earth, 2005-2011E
Operating Revenue and Net Income of China Rare Earth Holdings Limited, 2005-2011
Operating Revenue Structure of China Rare Earth Holdings Limited by Business, 2005-2011
Rare Earth Revenue in China by Region, 2011
Main Products of Grirem Advanced Materials
Rare Earth Enterprises Invested by Canadian NEO in China
Major NdFeB Production Enterprises of Zhong Ke San Huan
Major Rare Earth Raw Material Production Enterprises of Zhong Ke San Huan
Operating Revenue and Net Income of Zhong Ke San Huan, 2006-2011
Gross Margin of Magnetic Materials of Zhong Ke San Huan, 2009-2011
Revenue of Zhong Ke San Huan by Region, 2009-2011
Major Rare Earth Permanent Magnet Material Technology Transformation Projects of Zhong Ke San Huan, 2011
Operating Revenue and Net Income of Ningbo Yunsheng, 2006-2011
Revenue of Ningbo Yunsheng by Business, 2009-2011
Gross Margin of NdFeB Products of Ningbo Yunsheng, 2009-2011
Revenue of Ningbo Yunsheng by Region, 2009-2011
NdFeB Application Fields of Ningbo Yunsheng
Operating Revenue and Net Income of Taiyuan Twin-Tower Aluminum Oxide, 2006-2011
Revenue of Taiyuan Twin-Tower Aluminum Oxide by Product, 2009-2011
Gross Margin of NdFeB Products of Taiyuan Twin-Tower Aluminum Oxide, 2009-2011
Operating Revenue of Shaanxi IRICO, 2007-2011
Production and Sales of Jiangmen KanHoo, 2007-2010
Operating Revenue and Net Income of Jiangmen KanHoo, 2007-2010
Rare Earth Investment Projects of Gansu Rare Earth
