2009-2010年中国稀土行业调研分析报告

　　Abstract

　　Rare earth is the richest strategic resource of China. As of 2009, China’s reserves of rare earth have reached 36 million tons, representing 36.4% of the world’s total. China also boasts the largest rare earth output in the world, accounting for 129,000 tons or 97% of the world’s total output in 2009. The overexploitation of rare earth resources has posed a grave challenge to the sustainable development of China’s rare earth industry.

　　In response to the problem in the exploitation of rare earth resources, the Chinese Government has intensified the policy control in recent years, implementing a mandatory production and export quota system. The rare earth exploitation of China is capped at 89,200 tons in 2010, up 8.4% year-on-year, while the export quota stands at 30,300 tons, down 39.5% year-on-year.

　　Since 2009, China has strengthened its control over rare earth export, pushing up a new round of price hike of rare earth resource worldwide because of the shortage of supply. A case in point is neodymium, the spot market price of which in Shanghai reached RMB 316,500/ton as of September 30th, 2010, an increase of 224.6% compared with the RMB 97,500/ton in December 2008.

Prices of Main Rare Earth Metals in Shanghai Spot Market, 2005-2010 (RMB 1,000/ton)

　　Ce

　　Dy

　　La

　　Nd

　　Dec.30^th,

　　Dec.29^th,

　　Dec.28^th,

　　Dec.31^st,

　　Dec.30^th,

　　Sep.30^th,

　　Source: China Nonferrous Metals Industry Association; ResearchInChina

　　Under intensifying policy control, China’s rare earth industry has accelerated the pace of mergers and acquisitions since 2009. Regarding light rare earth resources, in North China, Inner Mongolia Baotou Steel Rare-earth (Group) led the integration of rare earth exploitation and smelting separation enterprises in Baotou, Inner Mongolia and Weishan, Shandong Province, so did Jiangxi Copper in Liangshan, Sichuan Province. Regarding heavy rare earth resources, China Minmetals Non-ferrous Metals is still competing with local enterprises in Ganzhou for rare earth exploitation rights. By contrast, the integration in Guangdong and Fujian Provinces goes very well, with Guangdong Rising Nonferrous Metals Group and Xiamen Tungsten as the major players in the integration.

　　Contents

　　1. Overview of Rare Earth Industry

　　1.1 Definition Classification

　　1.2 Industry Chain

　　2. Development Environment of China’s Rare Earth Industry

　　2.1 Global Rare Earth Industry Development

　　2.1.1 Reserves and Distribution

　　2.1.2 Exploitation

　　2.2 China’s Rare Earth Industry Policy Adjustment

　　2.2.1 Production Policy

　　2.2.2 Foreign Investment Policy

　　2.2.3 Export Policy

　　2.2.4 Prospect of Industrial Policy Adjustment

　　3. China’s Rare Earth Industry Development

　　3.1Reserves and Distribution

　　3.2 Development in Major Regions

　　3.2.1 Inner Mongolia

　　3.2.2 Sichuan

　　3.2.3 Shandong

　　3.2.4 Jiangxi

　　3.2.5 Guangdong

　　3.2.6 Fujian

　　4. China’s Rare Earth Industry Market Supply and Demand

　　4.1 Supply Demand

　　4.1.1 Rare Earth Ore Production

　　4.1.2 Rare Earth Smelting and Separation

　　4.1.3 Demand

　　4.2 Export

　　4.2.1 Export Quota

　　4.2.2 Export Scale

　　4.2.3 Export Structure

　　4.3 Market Price

　　4.3.1 Prices of Major Heavy Rare Earth Metals

　　4.3.2 Prices of Major Light Rare Earth Metals

　　5. Application of Rare Earth Metals

　　5.1 Traditional Application

　　5.2 Magnetic Materials

　　5.2.1 Major Application

　　5.2.2 Supply Demand

　　5.2.3 Market Competition

　　5.3 Hydrogen Storage Material

　　5.3.1 Market Scale

　　5.3.2 Market Competition

　　5.4 Polishing Material

　　5.4.1 Market Scale

　　5.4.2 Market Competition

　　5.5 Luminescent Material

　　5.5.1 Major Application

　　5.5.2 Supply Demand

　　5.5.3 Market Competition

　　6. Key Enterprises

　　6.1 Inner Mongolia Baotou Steel Rare-earth (Group) High-Tech

　　6.1.1 Profile

　　6.1.2 Operation

　　6.1.3 Development Strategy

　　6.2 China Minmetals Rare Earth

　　6.2.1 Profile

　　6.2.2 Operation

　　6.2.3 Development Strategy

　　6.3 Jiangxi Tungsten Industry Group

　　6.3.1 Profile

　　6.3.2 Operation

　　6.4 China Nonferrous Metal Industry's Foreign Engineering and Construction

　　6.4.1 Profile

　　6.4.2 Operation

　　6.4.3 Prospect

　　6.5 Guangdong Rising Nonferrous Metals Group

　　6.5.1 Profile

　　6.5.2 Operation

　　6.5.3 Investment Planning

　　6.6 Xiamen Tungsten

　　6.6.1 Profile

　　6.6.2 Operation

　　6.6.3 Prospect

　　6.7 Hunan Rare Earth Metal Material Institute

　　6.7.1 Profile

　　6.7.2 Operation

　　6.8 Grirem Advanced Materials

　　6.8.1 Profile

　　6.8.2 Operation

　　6.9 Leshan Ruifeng

　　6.9.1 Profile

　　6.9.2 Operation

　　6.10 Jiahua Advanced Material Resources

　　6.10.1 Profile

　　6.10.2 Operation

　　7. Major Rare Earth New Material Enterprises of China

　　7.1 Zhong Ke San Huan

　　7.1.1 Profile

　　7.1.2 Expansion of Industry Chain

　　7.1.3 Operation

　　7.1.4 Development Planning

　　7.2 Ningbo Yunsheng

　　7.2.1 Profile

　　7.2.2 Operation

　　7.3 Taiyuan Twin-Tower Aluminum Oxide

　　7.3.1 Profile

　　7.3.2 Operation

　　7.4 Shaanxi IRICO

　　7.4.1 Profile

　　7.4.2 Operation

　　7.4.3 Development Strategy

　　7.5 Jiangmen KanHoo Industry

　　7.5.1 Profile

　　7.5.2 Operation

　　7.6 Gansu Rare Earth New Material

　　7.6.1 Profile

　　7.6.2 Investment

　　Selected Charts

　　Classification of Rare Earth Resources

　　Rare Earth Industry Chain

　　Types of Rare Earth Ore

　　Reserve Distribution of Global Rare Earth Resources

　　Reserves of Major Rare Earth Mines outside China

　　Exploitation of Rare Earth Resources outside China

　　Exploitation of Rare Earth Resources outside China,

　　Major Rare Earth Industrial Policies Released by China, 2002-

　　Target of Total Amount Control on Rare Earth Exploitation of China, 2007-

　　Rare Earth Products Banned in Processing Trade of China,

　　Export Tariff Rates of Rare Earth Products of China,

　　Export Quota of Rare Earth in General Trade of China,

　　Distribution of Rare Earth Resources in China

　　Content of Rare Earth Element in Major Rare Earth Deposits of China

　　Mandatory Planning Output of Rare Earth Products in Major Regions of China,

　　Output of Rare Earth Mine in China, 2005-

　　Major Rare Earth Mining Enterprises of China,

　　Output of Rare Earth Smelting and Separation Products of China, 2004-

　　Rare Earth Consumption and Growth Rate of China, 1996-

　　Export Quota of Rare Earth Products of China, 2004-

　　Export Volume of Rare Earth Products in China, 2006-

　　Export Value of Rare Earth Products of China, 2006-

　　Export Structure of Rare Earth Products of China by Product, 2006-

　　Export Structure of Rare Earth Products of China by Country, 2009-

　　Prices of Major REOs in Spot Market of Shanghai, Sep.30th,

　　Spot Market Price of Dysprosia of China, 2005-

　　Spot Market Price of Dysprosium of China, 2005-

　　Spot Market Price of Terbium Oxide of China, 2005-

　　Spot Market Price of Neodymium Oxide of China, 2005-

　　Spot Market Price of Lanthanum Oxide of China, 2005-

　　Spot Market Price of PR+ND Oxide of China, 2005-

　　Spot Market Price of Praseodymium Oxide of China, 2005-

　　Spot Market Price of Europium Oxide of China, 2005-

　　Spot Market Price of Neodymium of China, 2005-

　　Spot Market Price of Lanthanum of China, 2005-

　　Spot Market Price of PR+ND of China, 2005-

　　Spot Market Price of Cerium of China, 2005-

　　Rare Earth Consumption Structure of China, 2008-

　　Application of Rare Earth in Traditional Industrial Fields

　　Application of Rare Earth in Traditional Consumption Fields,

　　Market Structure of NdFeB by Application in China,

　　Market Scale of NdFeB for Electric Vehicle, 2010-2020E

　　Market Scale of NdFeB for Wind Generator, 2008-2014E

　　Market Scale of NdFeB for Frequency Conversion Air-Condition, 2009-2013E

　　Key NdFeB Enterprises of China,

　　Key Rare-Earth Hydrogen Storage Material Enterprises of China,

　　Key Rare Earth Polishing Material Enterprises of China,

　　Consumption of Rare Earth Elements by Rare Earth Luminescent Materials, 1993-

　　Application of Rare Earth Fluorescent Material

　　Global Consumption Structure of Rare Earth Fluorescent Powder, 1993-

　　Capacity of Rare Earth Luminescent Materials of China, 2006-2013E

　　Market Demand for Rare Earth Luminescent Materials Applied in Energy-Saving Lamps, 2006-2013E

　　Unit Demand for Rare Earth Luminescent Materials Applied in Panel Display Products

　　Market Demand for Rare Earth Luminescent Materials Applied in Panel Displays of China, 2006-2013E

　　Market Demand for Rare Earth Luminescent Materials Applied in Special Light Source, 2006-2013E

　　Key Rare Earth Luminescent Material Manufacturers of China,

　　Prime Products of Inner Mongolia Baotou Steel Rare-earth (Group)

　　Operating Income and Net Profit of Inner Mongolia Baotou Steel Rare-earth (Group), 2005-

　　Operating Income of Inner Mongolia Baotou Steel Rare-earth (Group) by Main Product, 2009-

　　Resource Integration of Inner Mongolia Baotou Steel Rare-earth (Group) in South China

　　Prime Products of China Minmetals Rare Earth

　　Major Rare Earth Subsidiaries of Jiangxi Tungsten

　　Rare Earth Processing Capacity of China Nonferrous Metal Industry's Foreign Engineering Construction, 2007-

　　Operating Income and Net Profit of the Rare Earth Business of China Nonferrous Metal Industry's Foreign Engineering Construction, 2007-

　　Rare Earth Capacity and Sales Volume of China Nonferrous Metal Industry's Foreign Engineering Construction, 2010-

　　Production Scale of Key Rare Earth Subsidiaries of Guangdong Rising Nonferrous Metals Group

　　Operating Income and Net Profit of Guangdong Rising Nonferrous Metals Group, 2009-

　　Operating Income and Net Profit of Xiamen Tungsten, 2007-

　　Major Rare Earth Projects of Hunan Rare Earth Metal Material Institute

　　Prime Products of Grirem Advanced Materials

　　Major Business Indicators of Leshan Ruifeng, 2007-

　　Rare Earth Enterprises Invested by NEO in China

　　Key NdFeB Manufacturers Affiliated to Zhong Ke San Huan

　　Key Rare Earth Raw Materials Manufacturers Affiliated to Zhong Ke San Huan

　　Operating Income and Net Profit of Zhong Ke San Huan, 2005-

　　Operating Income of Zhong Ke San Huan by Main Product, 2009-

　　Application of NdFeB Products Made by Ningbo Yunsheng,

　　Operating Income and Net Profit of Ningbo Yunsheng, 2005-

　　Operating Income of Ningbo Yunsheng by Main Product, 2009-

　　Operating Income and Net Profit of Taiyuan Twin-Tower Aluminum Oxide, 2005-

　　Operating Income of Taiyuan Twin-Tower Aluminum Oxide by Main Product, 2009-

　　Prime Operating Revenue and Total Profit of Shaanxi IRICO, 2004-

　　Prime Operating Revenue and Total Profit of Jiangmen KanHoo Industry, 2004-

　　Rare Earth Investment Projects of Gansu Rare Earth New Material