After the Baotou Steel Rare Earth Announcement Smelting and Separation Plant was completely shut down , the southern rare earth separation giant Minmetals also officially announced its follow-up. The two most important rare earth enterprises in the South and North have joined forces to insure the price, and the industry is waiting for whether it can cast a rare earth market that is close to the dead water.
Also worth noting is that the cut-off is being sought to participate backdoor * ST off aluminum Minmetals Rare Earth (Ganzhou) Co., Ltd. (referred to as "Minmetals Ganzhou Rare Earth") subsidiary.
Suspension of business waiting for backdoor
Our reporter recently confirmed from Minmetals Group that the subsidiary Minmetals Rare Earth Co., Ltd. has issued a public notice and decided to let the subordinate rare earth separation enterprises Dingnan Dahua Company, Hongjin Company, Guangzhou Jianfeng Minmetals Corporation and smelting enterprises find Wuxinzhou. The smelter suspended production. This covers most of the smelting and separation capacity directly controlled by Minmetals. The company did not state the period of suspension.
Among them, Dingnan Dahua, Jixian Red Gold and Xunwu New Boat are the smelting and separating enterprises under the Minmetals rare earth, and the latter is intended to achieve the listing target through the *ST Guan Aluminum , which is the same as the Minmetals.
*ST Guan Aluminum, which was suspended from listing in March 2011, announced at the end of September that it intends to purchase 100% equity of Minmetals Rare Earth (Zhangzhou) Co., Ltd. and 100% equity of Minmetals (Beijing) Rare Earth Research Institute through private placement of 313 million shares and raise funds. Matching funds, the price of the stock trading on the 20 trading days before March 24, 2011 average price of 8.48 yuan / share, the issue number of about 313 million shares.
However, the profit forecast provided by the announcement shows that the performance of Minmetals Rare Earth is not stable. The company achieved a net profit of 1.017 billion yuan in 2011. The full-year profit forecast for this year was only 518 million yuan, a drop of nearly 50% year-on-year. In 2013, it is expected to fall further to 362 million yuan. The fluctuations in performance caused by the surge in rare earth prices in the past two years can be seen. This time, in order to stop the production again, it will undoubtedly form a further blow to the company's performance.
Discontinued effect to be tested
As for the possible impact of the suspension of production, there are currently differences in the industry.
According to the 2012 Rare Earth Production Directive issued by the provinces, Minmetals has a total of about 4,000 tons (REO) this year. The previously-discontinued Baotou Steel Rare Earth has a share of 35,000 tons. According to the planned amount of about 90,000 tons in the whole year, the suspension of production will theoretically reduce the effective supply of market resources and have a certain positive effect on prices.
Since the Ministry of Industry and Information Technology is carrying out verification and rectification of illegal production of rare earths, the suspension of production is also seen as an echo of policy. The reporter learned from the local rare earth enterprises in Jiangxi that a large number of enterprises are in the state of overhaul.
However, the previous shutdown of Baotou Steel's rare earth has not received enthusiastic feedback from the industry. Traders generally said that the current market is already too weak, and there are fewer orders in stocks. Even if it is stopped, it will be difficult to achieve obvious results.
Now, the follow-up of Minmetals will allow the production to stop across the north and south regions, covering light and heavy rare earths, and whether there will be a linkage effect. The market will wait and see.
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