Asian Metal visits Zhujiang Rare Earth, Rising Assets, China Metallurgical Import & Export Guangdong Company, and Jianfeng Minmetals

From April 10 to 11, Mr. Eric Qiu, the rare-earth analyst from Asian Metal, visited a number of rare earth enterprises based in Guangdong province, including Guangdong Zhujiang Rare Earth Co., Ltd. (“Zhujiang Rare Earth”), Guangdong Rising Assets Management Co., Ltd. (“Rising Assets”), Guangzhou Guangxi Rare Earth Metals & Minerals Co., Ltd. (“Guangzhou Guangxi”), China Metallurgical Import & Export Group Guangdong Company, Jieyang Zhongdongyuan Technology Co., Ltd. (“Zhongdongyuan Technology”), and Guangdong Jianfeng Minmetals Rare Earth Co., Ltd. (“Jianfeng Minmetals”). He met with senior management officials from the companies and exchanged views on the rare earth market.
On the morning of April 10, Eric first visited Zhujiang Rare Earth and met with its operation director Mr. Xiao Yuantai and sales manager Ms. Li Meizhu. Eric introduced to them latest development of Asian Metal, light rare earths quotations released by Baogang Group on April 6, national reserves as well as responses from the market. Both sides then exchanged views on supply and demand, transaction prices and market prospective for rare earth products, such as SmEuGd concentrate, yttrium oxide, europium oxide, gadolinium oxide, samarium oxide, dysprosium oxide, terbium oxide (spot supply was relatively tight), and lutetium oxide. Mr. Xiao then accompanied Eric in visiting the company’s workshops on extraction, sedimentation, product storage, and sewage treatment.

From left: Mr. Xiao Yuantai and Mr. Eric Qiu

On the afternoon of April 10, Eric visited Rising Assets and met with Mr. Hong Yerong and Mr. Wang Yufan, vice-director and senior manager of investment-development Department respectively. Rising Assets reports to State-owned Assets Supervision and Administration Commission of Guangdong provincial government, and is the parent company of Rising Nonferrous Metals and Guangdong Rare Earth Group, having the responsibility of administering financial risks of its subsidiary companies. Both sides held discussions on China’s rare-earth-ore mandatory plan and resource tax reform. Eric introduced to Rising Assets staff rare earth mining in other countries, in particular, Myanmar, pointing out that illegal rare earth mining in China has been partly contained as government adopted a more rigorous attitude in administering the industry, but on the other hand China’s rare ear ore imports increased gradually. Mr. Hong highly appraised Asian Metal for its outstanding performance in market surveys, price monitoring and in-depth research, expecting to strengthen mutual cooperation in the future, a proposal enthusiastically echoed by Mr. Eric Qiu.

From left: Mr. Eric Qiu, Mr. Hong Yerong and Mr. Wang Yifan

Rising Assets International Building

Front gate of Rising Assets International Building

On the evening of April 10, Mr. Eric Qiu met with Mr. Lao Shen, general manager of Guangdong Guangxi, and Ms. Lao Shenglan, general manager of Shaoguan Bocheng Economic Development Co., Ltd., and both sides communicated on supply and demand related to praseodymium oxide and erbium oxide in the glass and ceramic industries. Mr. Lao appraised Asian Metal as an important go-to reference between rare earth consumers and suppliers, and encouraged Asian Metal to better serve traders by providing more and further detailed predictions on the rare earth market. Both sides also discussed about how to make profits via the Internet in a post-information-era. Mr. Lao showed great interest in participating in the 9th International Rare Earth Summit to be held by Asian Metal on May 11-12.
On the morning of April 11, Eric visited China Metallurgical Import & Export Guangdong Company and met with its general manager Mr. Song Li and import-export section vice-manager Mr. Cao Zhicong. According to Mr. Song Li, as rare earth suppliers in the North China market lifted their prices and major producers merely watched from the sideline, waiting for government to unveil its reserve plan, the Chinese praseodymium and neodymium market still witnessed relatively tight supply; but production costs for metallic products were higher than their selling prices. China Metallurgical Import & Export Guangdong Company is a member company of Asian Metal, and Mr. Song Li highly valued Asian Metal’s work in price monitoring and analysis, and encouraged Asian Metal to make bolder predictions on price trends. Both sides also exchanged views on other heavy rare earth products.

From left: Mr. Song Li and Mr. Eric Qiu

On the afternoon of April 11, Eric and Mr. Zhong Jiongxiong, general manager of Zhongdongyuan Technology, drove together to Jianfeng Minmetals located in Aotou, Conghua city, and visited its general manager Mr. Liu Qing and marketing manager Mr. Sheng Hao. Mr. Liu Qing briefed Eric on Minmetals’ three subsidiary separation enterprises as well as on the previous environmental inspections. He emphasized that prices for rare earth products did not rise before ore prices moved upwards, exposing separation enterprises to risks of making low or even no profit in the current market situation, and his company now adopted a strategy of developing high-value-added and special-specification rare earth products. Eric then introduced about market conditions and supply-demand status quo on dysprosium oxide, lutetium oxide, gadolinium oxide, and lutetium-enriched products. They together visited Jianfeng Minmetals’ workshops and security facilities.

From left: Mr. Liu Qing and Mr. Eric Qiu

Calcined high-purity dysprosium oxide produced by Jianfeng Minmetals