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The "small abacus" of Luzhou rare earth
According to the announcement issued by Baotou Steel Rare Earth and Xiamen Tungsten Industry, only 7 companies have become shareholders of Baotou Rare Earth Exchange, namely Baotou Steel Rare Earth, Xiamen Tungsten Industry, China National Color Stock Co., Ltd., National Reserve Materials Adjustment Center, Sichuan Jiangtong Rare Earth Co., Ltd. The company, Gansu Rare Earth New Materials Co., Ltd. and Inner Mongolia High-tech Holdings Co., Ltd.
When the list of members of the exchange was announced, the number of shareholders rose to 10, the registered capital of the exchange was 100 million yuan, and each company invested 10 million yuan, accounting for 10% of the registered capital of the rare earth exchange. China's rare rare earths are limited. The company, Minmetals Group's Minmetals Rare Earth Co., Ltd., two state-owned enterprises, and local enterprises Guangdong Rare Earth Group also announced their participation.
A senior executive of Baotou Steel Rare Earth said that Luzhou Rare Earth Mining Company will not enter the rare earth exchange for the time being.
Baotou had hoped that Laizhouâ€™s rare earth â€œacceptedâ€, but the Ganzhou municipal government did not â€œbuyâ€. Not only that, but Luzhou City hopes to put the rare earth exchange in Zhangzhou City instead of Baotou City. Baotou and Zhangzhou, one of the country's largest light rare earth producing areas, one of the country's largest medium and heavy rare earth producing areas, both local governments hope to establish a rare earth exchange.
The rare earth industry is no longer the same. With the sharp rise in the price of rare earths last year, the industry that originally had a production value of only 20 billion yuan soon became a nearly 100 billion industry. Jiangxi and Inner Mongolia do not want to give up this "fat".
China's rare earth plays an important role in the world. In terms of quantity, the annual rare earth production in Baotou City accounts for about 80% of the national rare earth production. However, Baotou rare earth is mainly a light rare earth with a lower price.
Among the heavy metals in the south, the medium-heavy rare earths in Ganzhou account for about 80% of the national heavy-earth rare earth production. Although the output is much less than that of Baotou, the output value is very high. According to data released by Jiangxi Provincial Industry and Information Technology Commission, there were 51 rare earth enterprises in Jiangxi Province at the end of 2011. The annual revenue of rare earths was 32.92 billion yuan, up 139.8% year-on-year; the profit was 6.5 billion yuan, up 493.5% year-on-year; the tax was 2.71 billion yuan. Growth of 227.1%.
In fact, in order to compete for pricing power, Chenzhou City has taken the lead in setting up a rare earth exchange last year.
On November 11, 2011, Jiangxi Yanzhou Rare Metals Exchange was established in Zhangzhou, initiated by Zhangzhou Industrial Investment Group Co., Ltd. with a registered capital of 100 million yuan. The company mainly provides spot and electronic trading market services for rare earth, tungsten, cobalt, tin and other metals and their extended products.
Rare earth exchanges increase pricing power?
As the country's largest medium- and heavy-earth rare earth mining company, if the Luzhou rare earth does not join the Baotou Rare Earth Exchange, this platform will be greatly restricted.
People familiar with the matter said that the Ministry of Industry and Information Technology and the China Rare Earth Industry Association also hope to launch a national rare earth exchange, but now they are not buying each other, whether they are in Baotou or Zhangzhou. "In this way, the rare earth exchange will become a display. It became a person to play with himself."
In addition, the Baotou Rare Earth Exchange is still only a â€œconceivedâ€ and there is no perfect trading rules. People familiar with the exchange revealed to the newspaper that the current rare earth exchange has just hanged a brand, there is no team, and there is no trading system. "There is no such thing as how to get it, and it takes at least half a year from now to the real transaction. time."
Juguoxian, the chief analyst of GF Securities Nonferrous, believes that through the trading platform, the price of rare earth is expected to improve the current situation of non-standardization of quotation, and it is expected to form an open and transparent market price in the market competition. The far-reaching impact is that the price system of the rare earth market will continue to be standardized, and the liquidity will be enhanced, which is beneficial to rare earth production enterprises and downstream smelting and separating enterprises.
Due to the chaos of scattered transactions in the rare earth industry, foreign buyers can lower prices by means of simultaneous inquiry to multiple rare earth enterprises. The establishment of a rare earth trading platform is conducive to improving the sales market order of rare earths. At the same time, the unified market price is also conducive to China's rare earth enterprises to gain more say in the negotiations with foreign buyers.
However, many people in the rare earth industry are not optimistic about the establishment and prospects of the exchange when they are interviewed by this newspaper.
"The extent of this show is even greater, and the actual significance is not great." Wang Zhongshan, vice chairman of the Nanjing Rare Earth Application Research Association, told this newspaper that the rare earth exchange is difficult to do. Now there are some third parties in the country that do price information, many transactions. Merchants can refer to these prices for trading.
He believes that what should really be done is to promote the establishment of a pricing mechanism for the rare earth industry association as soon as possible. The rare earth industry association should have a price negotiation agency to regularly issue price information and timely adjust the price lifting guidance; secondly, the rare earth industry association should establish a regulatory market management system. There must be government authorization, and the functions of interfering with the rare earth market and price may have the right to manage the industry. At the same time, there are systems in which the rare earth enterprises jointly negotiate the market price, and the management and self-discipline are jointly regulated.
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