At the 4th China Baotou Rare Earth Industry (International) Forum, which opened on August 8, Baotou Rare Earth Products Exchange Co., Ltd. was officially unveiled. According to the regulations, Baotou Rare Earth Products Exchange Co., Ltd. will carry out rare earth spot trading, and will not carry out long-term trading of bulk commodities, long-term trading market management of bulk commodities, and warehouse receipt transactions. Currently, the exchange has begun to design trading models, processes, and so on. Due to the particularity and complexity of the rare earth trade, the official operation of the electronic platform will take time. According to reports, Baotou Rare Earth Products Exchange Co., Ltd. consists of Baotou Steel Rare Earth (Group) High-Tech Co., Ltd., National Material Reserve Adjustment Center, China Nonferrous Metals Construction Co., Ltd., Sichuan Jiangtong Rare Earth Co., Ltd., Xiamen Tungsten Co., Ltd. The company, China Rare Earth Rare Earth Co., Ltd., Minmetals Rare Earth Co., Ltd., Guangdong Rare Earth Industry Group, Gansu Rare Earth New Materials Co., Ltd., Inner Mongolia High-tech Holdings Co., Ltd. and other 10 companies and institutions jointly established the capital, the registered capital of the exchange is 100 million. Yuan Renminbi, each of which contributed 10 million yuan, each accounting for 10% of the registered capital of the Rare Earth Exchange. Participating enterprises include major enterprises in the north and south rare earth producing areas, and the same shares share the same power to ensure the fairness of the trading platform. For a long time, China has supported more than 90% of the global demand for rare earth products, but lacks the pricing power for rare earth products. One important reason is that China's rare earth production capacity is relatively scattered. Foreign buyers often take an order to consult with many export enterprises. The price, thus inducing vicious competition among production companies, and thus lowering prices. Experts attending the conference generally believe that the establishment of a modern national rare earth product exchange, and the use of this platform to actively integrate various resources in the field of rare earth circulation, in line with China's rare earth industry development policy. In particular, through the establishment of a spot trading platform, it is possible to gradually regulate the trading behavior of rare earth enterprises, improve the current situation of non-standardization and non-uniformity of corporate quotations, help to enhance market transparency, enhance the right to speak on the pricing of rare earth products, and maintain the stability of the rare earth market.
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