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Baotou Rare Earth Exchange: Can it be a big hit? Baotou rare earth exchange
After experiencing the best time of 20 1 1, the situation of rare earth industry has taken a sharp turn for the worse in 20 12, when rare earth trade frictions frequently occur. Baotou Steel Rare Earth, the younger generation of that year, was also under siege. As a result, rare earth enterprises began to communicate closely and began to fight back.

On August 8, 20 12, Baotou Rare Earth Industry (International) Forum was held, and Baotou Rare Earth Products Exchange (hereinafter referred to as Rare Earth Exchange) was officially inaugurated.

According to the requirements of the government of Inner Mongolia Autonomous Region, rare earth exchanges can only carry out spot trading, not involving futures trading, and their business scope shall not include medium and long-term trading of bulk commodities, market management of medium and long-term trading of bulk commodities, and warehouse receipt trading. At the same time, the rare earth exchange will recruit shareholders in Jiangxi, Shandong, Guangdong, Beijing and Shanghai. The initial business of the exchange is mainly rare earth trading in the north, and the rare earth business in the south will be considered later.

Then, as one of the rare earth giants, can Baotou Steel Rare Earth really enter the national rare earth market through the rare earth exchange as expected by the industry, quickly establish its oligopoly status, and truly be applauded and popular? In this regard, the industry is also controversial and worried.

Luxurious lineup, it is difficult to hide differences and concerns.

The newly listed rare earth exchange is established by Baotou Steel Rare Earth, Xiamen Tungsten Industry, China Nonferrous Metals Corporation, National Reserve Material Adjustment Center, Sichuan Jiangtong Rare Earth Co., Ltd., Gansu Rare Earth New Materials Co., Ltd., Inner Mongolia Hi-Tech Holdings Co., Ltd., China Rare Earth Co., Ltd. (under Chinalco), Minmetals Rare Earth Co., Ltd. (under Minmetals Group) and Guangdong Rare Earth Group * * 65438+ with a registered capital of 65438+.

This 10 invested enterprise has a luxurious lineup, covering almost the entire rare earth industry and market in China. According to Zhong Zhang, general manager of Baotou Steel Rare Earth, 10 enterprises account for 88% of the national mandatory rare earth mining plan, 82.3% of the national mandatory rare earth smelting plan and 79% of the national rare earth export quota, which is very representative.

It is understood that on the day of the establishment of the Rare Earth Exchange, Ganzhou Rare Earth Mining Group was absent, and in previous years, representatives from Ganzhou attended. It is reported that Ganzhou and Baotou "broke up in discord" because of Baotou Rare Earth Exchange.

The attitude of Ganzhou Rare Earth shows that Ganzhou Rare Earth Mining Company will not enter the rare earth exchange for the time being. On the one hand, Ganzhou is known as the "Tungsten Capital of the World" and "Rare Earth Kingdom", and the Ganzhou Rare Metals Exchange was established after years of brewing by the Ganzhou Municipal Government. Although the operation situation is not satisfactory, the output value of medium and heavy rare earths is huge, but it has not reached the point of unsustainability. On the other hand, after the promulgation of "Several Opinions of the State Council on Supporting the Revitalization and Development of the Former Central Soviet Area, such as Gannan", Ganzhou will start to build a strategic resource reserve base of ionic rare earths in the south, and study and demonstrate the establishment of a rare metal futures trading center to seize the opportunity and not be left behind.

What's more, today's rare earth industry has long been different. With the sharp rise in the price of rare earths last year, this industry with an output value of only 20 billion yuan quickly became nearly 100 billion yuan. Who will give up this "fat meat" in Jiangxi and Inner Mongolia?

Some experts believe that the competition between the North and the South to build rare earth-related exchanges is largely for the pricing power of rare earths. Moreover, from the perspective of industrial development, this is not a bad thing. The establishment of rare earth exchange can promote the rationality of rare earth prices and avoid the situation of low and high rare earth prices. However, if the internal friction continues like this, the problem of unity of opposites cannot be handled well, and a multi-level rare earth trading market cannot be formed. The rare earth exchange will eventually become a decoration and a plaything for our own people.

A lesson from the past, a lesson from the future?

20 10 Baotou put forward the idea of establishing a rare earth exchange, and formally submitted an application to the government of Inner Mongolia Autonomous Region on 20 1 1. While Baotou is waiting for approval, Ganzhou took the lead in setting up Jiangxi Ganzhou Rare Metals Exchange on 201111. Since then, local businessmen have repeatedly consulted Ganzhou Rare Metals Exchange about whether enterprises are listed for trading, and the answer is that trading rules such as listing and rates are being formulated.

It was not until 65438+ February 3 1 of the same year that the exchange completed its first transaction. Dayu Jincheng Tungsten Industry Co., Ltd. and Chongyi Bird Tungsten Industry Co., Ltd. successfully signed a purchase and sale contract with a transaction amount of 42 million yuan. However, this is also the only transaction since the opening of Ganzhou Rare Metals Exchange, and it is sponsored by government departments.

In the eyes of most people, the Rare Earth Exchange, which was launched in a hurry, and the Jiangxi Ganzhou Rare Metals Exchange are in the same boat. Although the rare earth exchange is officially listed, the specific operation plan such as trading rules, varieties and personnel setting has not been formed, and the actual trading volume that the industry is extremely concerned about is even unknown.

Gan Yong, president of China Rare Earth Industry Association, told the reporter: "At present, the trading mode of rare earths is still in the exploratory stage. I hope Baotou can make experience and spread it to the whole country. The model can refer to the iron ore spot trading platform. "

In this regard, the reporter communicated with a number of rare earth enterprises to understand the willingness of enterprises to participate. Among them, the answer of most business representatives is that due to the characteristics of the industry, they are not familiar with the e-commerce platform, and the trading rules such as listing and rate are still being formulated, and the actual effect is not obvious, so they can only take a wait-and-see attitude; A few business representatives said that they were worried and not optimistic about the establishment and prospects of the exchange.

Faced with all kinds of difficulties, the shareholders of Rare Earth Exchange 10 are in full swing, and actively design and explore trading methods according to the expected goals at the beginning of its establishment. According to a senior shareholder of the rare earth exchange, according to the established goal of the rare earth exchange, the trading method is expected to take shape before the end of this year.

Should the government participate in rare earth trading?

The trading of rare earth products in China is scattered, and the trading prices are very inconsistent. The establishment of rare earth products exchange is a long-standing idea in the industry. Beijing, Shanghai and Kunming have also tried to establish rare earth trading platforms, but they were not approved because of the lack of conditions. At present, only Baotou Rare Earth Products Exchange and Ganzhou Rare Metals Exchange have been approved.

Before the establishment of Baotou Rare Earth Products Exchange, Baotou had hoped that the newly established China Rare Earth Industry Association would be included in the sponsor queue. Unfortunately, the China Rare Earth Industry Association formally discussed the proposal on whether the Association will participate in Baotou Rare Earth Exchange and Ganzhou Rare Earth Exchange at the second meeting of the first Standing Committee. After the vote of the executive director, the association finally decided not to participate in Ganzhou Rare Earth Exchange and Baotou Rare Earth Exchange for the time being. In the end, Baotou Rare Earth Exchange can only be established and operated according to market conditions and market mechanisms.

Some analysts told reporters that the establishment of a market-oriented trading platform will help to form an open and transparent market price in market competition and improve the current situation of irregular and inconsistent rare earth quotations. Moreover, with the standardization of the rare earth market price system and the enhancement of liquidity, it will be beneficial to the development of rare earth production enterprises and downstream smelting and separation enterprises, and then continuously expand and improve the entire industrial chain.

However, the analyst also expressed concern that when the price of rare earth is low, enterprises may choose to conduct online trading on the rare earth trading platform, while when the price of rare earth is high, they may choose offline trading, because transparent prices are not conducive to profitability, so another "tangible" hand is needed to intervene and regulate.

In any case, Baotou Rare Earth Exchange has taken the first step, and it has also been recognized and supported by some ionic rare earth enterprises in the south, which will be of great benefit to improving the pattern of local melee. However, it takes time to be effective and will not succeed.