Delver of rare earths puts the production month silent

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Baotou Steel, China’s largest delver of rare earths, has announced the production immediately for a month long shut down, the prices started to rise. The earths are of great importance for the production of smartphones.

According to Baotou, the prices for rare earths, which are essential to the production of many electronics, the latter half of the year dropped on the market. So for example costs a ton praseodymium-neodymium oxide 55.556 dollar, almost the half of October last year. Would cause the weak economic development in the world trade.

The company has therefore decided to set up the production for at least a month to cease in the hope that through an increased scarcity prices, a rising line show, reports The China Post. Baotou ceased in October last year, even though production for the period of a month, but this step had little influence on the prices for rare earths.

Original-equipment manufacturers worldwide are following closely the developments on the Chinese market for earths closely because of their dependence on these raw materials and the fact that China has 95 percent of the market in hands. The Chinese government has in recent years, the export of raw materials several times on restricted. Because of this, in several countries, including Vietnam, Malaysia, the USA and Australia, several projects designed to re-earth metals to mining. A large disadvantage however is the environmentally unfriendly production methods.