Thursday, April 24, 2014

China Minmetals profits fall 94pct in Q1 2014

The fall in profits recorded by the Chinese rare earths producer follows decreasing profits of world-largest producer Inner Mongolia Baotou Steel Rare Earth Hi-Tech Companu, clearly indicating a downturn in the Chinese rare earths market, despite an increasing exports in March this year.

China's major rare earths producer, China Minmetals Rare Earth Company, saw its net profit falling 94.1% in Q1 2014, to Chinese renminbi CNY 1.6 million.

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