CHINA'S largest rare earths producer announced that it will continue to halt some of its production for a third month to help stabilize tumbling prices.
The Inner Mongolia Baotou Steel Rare-earth Hi-tech Co will continue to suspend rare earth roasting and smelting separation operations,which began on October 23,for another month
The burst of a speculative bubble in China's rare earths industry and the softening economy has led to prices of rare earths,a group of 17 metals used in products ranging from smartphones to hybrid cars,plunging since last year.
The price of praseodymium-neodymium oxide,used to make ceramics and magnetic materials,has slid to around CNY 300,000(USD 47,695)to CNY 320,000 per tonne,down from CNY 1.4 million per tonne at the highest point last year.