Following the announcement of a premium purchase of high-quality rare earth products on the 13th, on the 21st, Baotou Steel Rare Earth again raised the purchase price of rare earth by 10% to 13%, and continued to suspend production for one month. On behalf of the variety of bismuth oxide Baotou Steel Rare Earth offer 450,000 yuan / ton, this price compared with the current market price premium is close to 20%. China National Color Co., Ltd. also recently released rare earth procurement information, which is also a premium purchase. Yesterday, Baosteel Rare Earth re-released rare earth oxide procurement information on its website, covering light rare earths and heavy rare earths, which generally rose by 10% to 13% compared with the listing price on the 13th. Among them, bismuth oxide is quoted at 450,000 yuan/ton, bismuth oxide is quoted at 3.85 million yuan/ton, and bismuth oxide is quoted at 70,000 yuan/ton. The listing price is generally more than 15% higher than the current market price. Another major rare earth producer, China National Color Co., also announced the purchase price recently. Although the price is lower than that of Baotou Steel, it is also a premium purchase relative to the spot market. According to the offer of China National Color Co., its bismuth oxide is 400,000 yuan/ton and yttrium oxide is 3.8 million yuan/ton. At the same time, Baotou Steel Rare announced last night that the original one-month shutdown plan starting on October 23 will be extended for one month. Previously, the market worried that once the price of rare earth rebounded, the company would resume production, thus repressing the price. The delayed resumption of rare earth of Baotou Steel has a certain exemplary effect. And this also means that it will contribute very little in the fourth quarter. As a production-oriented company, the above actions of Baotou Steel Rare Earth and China National Color Co., Ltd. were interpreted as insured measures. Some rare earth traders expect that Minmetals may also raise the purchase price in recent days. However, some market participants bluntly said that because the above-mentioned purchases have a payment period of up to six months, the trading conditions are too harsh for traders who are currently not well-funded.
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