Organized by the China Nonferrous Metals Industry Association 2016 A seminar on the operational situation of the rare-earth industry was recently held in Beijing. The meeting concluded that progress has been made in the supply-side structural reform of the rare-earth industry.

According to Chen Quanxun, President of the China Nonferrous Metals Industry Association, since the beginning of this year, China's rare earth industry has generally shown a trend of... 3 One key feature is that progress has been made in supply-side structural reform. Through policy guidance such as rare-earth environmental compliance inspections and industry standardization requirements, approximately... 10 Rare earth smelting and separation capacity—characterized by annual output of tens of thousands of tons, failure to meet environmental standards, lack of obvious economies of scale, and weak competitiveness—is beginning to exit the market. By strengthening industry self-discipline, some enterprises have proactively adopted measures to reduce or halt production, leading to a decline in output and an improved supply-demand balance. Second, import and export trade is becoming increasingly active. According to customs data, 2016 Before the new year 10 For several months, China has been importing rare-earth smelting and separation products. 1.4 Ten thousand tons, up year-on-year 47.3% , export smelting and separation products 3.8 Ten thousand tons, up year-on-year 43.3% Exports of rare-earth functional materials continue to maintain steady and relatively rapid growth, with cumulative exports of rare-earth permanent magnets. 2.2 Ten thousand tons, up year-on-year 14.8% Third, prices continue to fluctuate at low levels. 2016 Since the beginning of the year, rare-earth prices have been on a downward trend for most of the time, previously... 11 months, the average prices of neodymium oxide, dysprosium oxide, and terbium oxide were approximately 25 Ten thousand yuan / ton, 125 Ten thousand yuan / ton, 262 Ten thousand yuan / tons, down year-on-year, respectively. 5.2% 、 17.2% and 17.6% Enter 11 In the past month, prices of these varieties have slightly rebounded. Overall, however, prices remain at low levels.

Regarding the future development of China’s rare earth industry, Chen Quanxun proposed three key points: First, innovation-driven development must serve as the fundamental driving force. Rare earths are essential materials supporting the development of high-tech industries, and the rapid growth of these high-tech industries, in turn, continuously puts forward new demands on rare earth materials. We must strive to achieve a fundamental shift in the development of the rare earth industry—from being driven by factors of production to being driven by innovation—through technological innovation, management innovation, and innovation in business models. Second, green development must be taken as the basic approach. Third, high-end development must serve as an important support.