1. Current status of rare earth industry The rare earth industry of Baotou Steel is the rare earth industry, which mainly involves rare earth metal beneficiation, smelting, separation, scientific research, and deep processing of downstream rare earth products, including NdFeB permanent magnet materials, hydrogen storage materials, polishing materials and nickel hydrogen. Battery production. The global rare earth resources are mainly distributed in China, the Commonwealth of Independent States, the United States, Australia and other countries. China is the world's largest rare earth country with reserves, accounting for about 52% of the world's total. World rare earth reserves allocation map 
Note: The data is provided by Baotou Steel Rare Earth. China's rare earth resources have the characteristics of large reserves, complete mineral varieties and good distribution of rare earth resources. Baiyun Obo Mine is the world's largest rare earth mine. The ion-adsorbing medium-heavy-earth rare earth ore in seven southern provinces such as Jiangxi and Guangdong is China's unique rare minerals. Sichuan and Shandong provinces have high-quality single-type fluorocarbon strontium rare earth ore. The provinces of Guangdong, Guangxi and Taiwan are also rich in monazite and xenotime. At present, China is the world's largest producer of rare earth ore and rare earth smelting and separating products. China's rare earth production accounts for about 90% of global production. The rest of the country, such as the former CIS, India, Thailand and other countries, has a total of more than 6,000 tons. Production contribution. China's rare earth reserves allocation map 
Note: The data is provided by Baotou Steel Rare Earth. 2. Industry development trend For a long time, rare earth enjoys the reputation of “modern industrial vitamins†and “mother of new materialsâ€, and is widely used in electronics, petrochemical, metallurgy, machinery, energy, light industry, energy protection, agriculture and other fields. . It is an indispensable "auxiliary" for modern high-tech industries. Mainly in the following aspects: (1) King of permanent magnets - NdFeB metal bismuth and bismuth alloy are mainly used to manufacture NdFeB permanent magnet materials, it is currently the most magnetic permanent magnet in the world, Known as the "king of permanent magnets." By replacing it with other permanent magnet materials, the volume and weight of the device can be doubled, resulting in an extremely wide range of applications. At present, the main application fields are: permanent magnet motor, generator, nuclear magnetic resonance imager, magnetic separator, acoustic speaker, magnetic drive, magnetic lifting, instrumentation, liquid magnetization, magnetic therapy equipment, etc., which have become automobile manufacturing and general purpose. Functional materials indispensable for the mechanical, electronic information industry and cutting-edge technology. In this century, China's NdFeB permanent magnet materials output exceeds Japan, becoming the world's largest producer, becoming the fastest growing rare earth functional material. (2) Application of rare earth in metallurgy-machine manufacturing The addition of trace rare earth in steel can improve the strength, toughness, wear resistance and corrosion resistance of steel. The addition of rare earths to non-ferrous metal alloys such as aluminum, magnesium and copper can refine grains and significantly improve overall performance. Rare earths are used in aluminum cables to improve material strength, electrical conductivity and corrosion resistance. (3) Application of rare earth in glass-ceramics The glass-ceramic industry is one of the important traditional application fields of rare earths. Rare earths are used as optical glass additives, clarifiers, decolorants, colorants and polishing powders in the glass industry and play an important role in the irreplaceability of other elements. (4) Application of rare earth nickel-hydrogen power battery Compared with traditional chemical power sources (such as lead acid, nickel cadmium, etc.), nickel-hydrogen power battery has pollution-free, high specific energy, high power, fast charge and discharge, abuse resistance, etc. Many excellent features have broad application and market prospects. (5) Nanocrystalline rare earth alloy magnetic powder nanocrystalline rare earth alloy magnetic powder industrialization, is the use of internationally advanced high-frequency high-frequency electromagnetic oscillation atomization rapid solidification powdering new technology and new technology with independent intellectual property rights, to build high-yield nanocrystals Rare earth alloy magnetic powder production line. The crystal grain size of the structure is several tens of nanometers, which can greatly reduce the oxygen content, improve the magnetic properties and corrosion resistance, and can reduce the production cost, so that the magnetic powder has an excellent performance price ratio. (6) New functional materials of rare earth giant magnetostrictive materials, mainly referred to as ferromagnetic magnetostrictive alloys (Terfenol-D), which have several times higher stretching performance than conventional magnetostrictive materials and piezoelectric ceramics. It is called a giant magnetostrictive material. Its mechanical response is fast, power density is high, and dimensional changes are large, which makes breakthroughs in electro-mechanical conversion technology and opens up a new era of magnetostrictive materials. Widely used in sonar, fuel injection, liquid valves, actuators and other precision control, space telescope adjustment mechanism and aircraft wing regulator, etc., is a rare earth functional material with broad development prospects, for the development of cutting-edge science, military technology And the modernization of traditional industries will play an important role. (7) Rare earth electrothermal material LaCrO3 is a new type of functional material, which can be used as a heating element for high temperature electric furnace in oxidizing atmosphere. It can be used for a long time at 1500~1800°C, and the resistance change is less than 5%. It is corrosion resistant and chemically stable, and it is easy to achieve precise temperature control. It is used for more than 4000 hours below 1750 °C. Mainly used for precision ceramic sintering, high temperature single crystal material preparation, material high temperature performance measurement, gemstone color treatment. It has a good development prospect in the fields of fuel cells, thermistors, high temperature conductive coatings and photocatalysis. (8) Application of rare earths in petrochemicals Rare earths can be used as catalysts for many inorganic and organic chemical reactions. For catalytic cracking of refined crude oil, the yield of light oil can be significantly improved. Direct distillation of petroleum yields only 15% to 20% of gasoline, while gasoline obtained by catalytic cracking with rare earth can reach 80% of crude oil. Rare earth catalysis is also used in many fields such as automotive exhaust gas purification, synthetic rubber, paint drying, plastic stabilizers and rare earth polymer materials. 3, the Chinese government's rectification of the rare earth industry China's rare earth industry has a pivotal position in the international arena. In recent years, in view of the disorderly development of China's rare earth industry, theft of mining and the lack of laws and regulations, and many other issues. In 2011, the Chinese government rushed to introduce a series of policies and regulations on the rare earth industry. On February 28, 2011, the Ministry of Environmental Protection officially issued the “Rare Earth Industry Pollutant Emission Standardsâ€, which will be implemented from October 1, 2011. The relevant person in charge of the Ministry of Environmental Protection said that this is the first national pollutant discharge standard issued by the Ministry of Environmental Protection during the “Twelfth Five-Year Plan†period. The formulation and implementation of the standard will help improve the entry threshold of the rare earth industry and accelerate the transformation of the rare earth industry. Ways to promote the structural adjustment of the rare earth industry and promote the sustainable and healthy development of the rare earth industry. On May 19, 2011, the State Council issued the "Several Opinions of the State Council on Promoting the Sustainable and Healthy Development of the Rare Earth Industry" (hereinafter referred to as Article 22). According to Article 22, after years of development, China's rare earth mining, smelting separation and application technology research and development have made great progress, and the scale of the industry has continued to expand. However, there are still illegal mining in the development of the rare earth industry. The smelting and separating capacity expansion is too fast, the ecological environment is destroyed and the resources are wasted seriously, the high-end application research and development lags behind, and the export order is chaotic, which seriously affects the healthy development of the industry. Article 22 from clear guiding ideology, basic principles and development goals; establish and improve the industry supervision system, strengthen and improve industry management; carry out special rectification of rare earths in accordance with the law, effectively maintain a good industrial order; accelerate the integration of rare earth industry, adjust and optimize the industrial structure; strengthen rare earth Resource reserves, vigorously develop rare earth application industry; strengthen organizational leadership, create a good development environment and other aspects of China's rare earth industry has been comprehensively elaborated and guided, can be described as the most important policy documents since the development of the rare earth industry. Article 22 clearly states that in 1-2 years, the establishment of standardized and orderly rare earth resources development, smelting separation and market circulation order, disorderly exploitation of resources, deterioration of ecological environment, blind expansion of production and export smuggling are effectively curbed. Basically form a rare earth industry pattern dominated by large enterprises. Article 22 also gives a clear division of labor for the first time. The Ministry of Industry and Information Technology, the Ministry of Commerce, the Information Office, the National Development and Reform Commission, the Ministry of Finance, the Ministry of Land and Resources, the General Administration of Customs, the Ministry of Environmental Protection and the Ministry of Supervision will jointly escort the rare earth industrial ship. On September 30, 2011, Premier Wen Jiabao signed the "Decision of the State Council on Amending the Provisional Regulations on the Resource Tax of the People's Republic of China" (hereinafter referred to as the decision), and decided to separately list the rare earth mineral tax rate in the non-ferrous metal ore, adjusted to 0.4- 60 yuan / ton, the resource tax adjustment program settled. In April 2011, with the approval of the State Council, the Ministry of Finance and the State Administration of Taxation have issued notices and decided to adjust the standard of raw ore resource tax and tax for rare earth minerals from April 1, 2011. The announcement of the State Council's order is to formalize and clarify resource tax adjustments. Since April 1st, the newly implemented standards for rare earth resource tax are: light rare earth, including bastnasite ore, monazite ore, 60 yuan / ton; medium and heavy rare earth, including xenotime, ionic rare earth ore, 30 yuan / ton. In the provisional regulations on resource tax before adjustment, rare earths are levied according to the upper limit of “other non-ferrous metal ore minesâ€, that is, the tax standard is only RMB 3/ton. This means that the rare earth resource tax will increase by 10 to 20 times. On April 8, 2012, China Rare Earth Industry Association was established. China Rare Earth Industry Association is a national first-level industry association, 13 non-ferrous metals associations, Chinalco, China Minmetals, China Nonferrous Metals, Baotou Steel Group, Luzhou Rare Earth, Guangyu Nonferrous and other 13 key units as promoters, currently a total of 155 members Units cover all aspects of the industrial chain. In the future, the Rare Earth Association will play a role as a “bridge†between enterprises and governments, upstream and downstream industries, and domestic and foreign markets. In addition, the association will carry out industry self-discipline, standardize industry order, and provide services such as production guidance, market research, intermediary services, trade friction warning, and enterprise rights protection for rare earth enterprises. 4. Analysis of the price of rare earth main products Baotou Steel Rare Earth is mainly engaged in the separation, processing, smelting and deep processing of light rare earth. The main elements of light rare earth are lanthanum, cerium, lanthanum and cerium. The following is the price trend of major products of light rare earth: the recent price chart of metal bismuth and antimony price from January 2011 to May 2012 
Source: Nisshin Securities Research Institute January 2011-May 2012, the recent price chart of bismuth oxide, antimony oxide, antimony oxide and antimony oxide 
Source: Nisshin Securities Research Institute was affected by the state's macro-policy regulation of the rare earth industry in 2011. The price of major rare earth products, bismuth oxide and metal bismuth, experienced the price increase of the first half of the year, starting from July 2011. It fell and began to rebound in early March 2012. The rebound of bismuth products increased, and metal bismuth and strontium oxide increased by 20.41% and 26.39%, respectively; strontium oxide and strontium oxide increased by 12.9% and 16.77%, respectively. (II) Status and major competition of Baotou Steel's rare earth industry 1. Industry status Baotou Steel Rare Earth has a complete industrial chain from rare earth beneficiation, smelting, separation, scientific research, deep processing to application. It is the largest rare earth industrial base in China and even in the world. Leading enterprise in China's rare earth industry. The company is mainly engaged in the development and utilization of the rare earth reserves of the world's most abundant rare earth reserves, and has a unique resource advantage. As the only leading enterprise in the integration of light rare earths in the north, the advantages of Baotou Steel's rare earth resources are unparalleled. Since 2011, the Inner Mongolia Autonomous Region government has begun to implement the integration and elimination of upstream enterprises in the region. The 35 rare earth enterprises involved will be reorganized, compensated for closure, and phased out, and finally formed by the unified mining and uniform beneficiation of Baotou Steel. The franchise of rare earth smelting and separation, unified smelting, unified management and management. Baotou Steel Rare Earth has more than 80% of the country's light rare earth resources, and controls upstream mining and separation, almost completely grasping the pricing power of light rare earth. Baotou Steel Rare Earth, which has the dual advantages of resources and pricing power, is undoubtedly the leader of the rare earth industry. 2. The company's main competitive advantage company is the leading enterprise in China's rare earth industry. It has the advantages of resources, cost and technology. At present, Inner Mongolia Autonomous Region supports the company to integrate and reorganize rare earth upstream enterprises. The company has become the only one in northern China to be allowed to engage in rare earth upstream industry operations. the company. The rare earth produced by the company accounts for about 50% of the national rare earth market share, and it has the majority market share in light rare earths. There are no major competitors. In the market, due to the high content of heavy metals in the south, there is market competition. . However, the number of rare earth enterprises in the south is also small, mainly concentrated in the Zhangzhou area. The company's total amount of rare earth equivalent oxides accounts for 40% of the national market share. The production capacity of functional materials such as NdFeB, anode powder and polishing powder accounts for more than 20% of the national market share, and rare earth metal bismuth accounts for 30% of the national market share. In recent years, the company has continuously extended its industrial chain to the downstream. At present, the subsidiaries participating in the holding and holding are mainly involved in trade, rare earth permanent magnet materials, polishing powder, hydrogen storage batteries, luminescent materials, and permanent magnetometers. The company upgraded the depth of the industrial chain as the focus of future development, and has successively entered the field of rare earth deep processing such as NdFeB magnetic materials, rare earth permanent magnetic resonance imaging, polishing materials and nickel-hydrogen batteries, and related fund-raising projects have been put into production. Now, 5,000 tons / year of rare earth polishing materials, 5,000 tons of magnetic materials, 4,000 tons of rare earth permanent magnet alloys, and an annual production capacity of 300 permanent magnetometers have been formed. The company plans to form a production capacity of 30,000 tons/year of magnetic materials and permanent magnet alloys, 5,000 tons of polishing materials, 1,500 tons of hydrogen storage materials and 300 permanent magnetometers. Become the leader of the whole industry chain covering the five major rare earth functional materials. Due to its abundant rare earth resources, the company has an innate cost advantage in the development of rare earth functional materials. It is expected that the proportion of rare earth functional materials in the company's profits will increase significantly by 2015, and it is expected to account for more than half. The company uses its resource advantages to gradually establish its leading position in the industry and improve its control over the rare earth industry through “buy and purchase†and build rare earth exchanges. With the convening of the preparatory meeting for the rare earth spot exchange in March 2012, preparations have been put on the agenda. According to the "Reply of the Inner Mongolia Autonomous Region People's Government on the Establishment of the Baotou Rare Earth Products Exchange" (Internal Affairs [2011] No. 131) (hereinafter referred to as "Reply"), the corporate legal person of Baotou Rare Earth Exchange will be Baotou Steel Rare Earth and Inner Mongolia Gaoxin Holdings Co., Ltd. is the main body to carry out related work on rare earth product transactions. The preparation and establishment of the rare earth exchange will change the current chaotic situation of the rare earth market and enhance the pricing power of Baotou Steel Rare Earth in the domestic and global rare earth markets. At the same time, Baotou Steel Rare Earth Holding Co., Ltd. Inner Mongolia Baotou Steel Rare Earth International Trading Co., Ltd. concentrates on the unified procurement, storage and sales of rare earth oxides, compounds, rare earth metals and synthetic products, which is conducive to stabilizing market supply and protecting rare earth prices. In the long run, both the establishment of the rare earth exchange and the establishment of the rare earth trading company have laid the foundation for the company's centralized production, operation, acquisition, sales and pricing, and will further enhance the company's pricing power in the international market.
Note: The data is provided by Baotou Steel Rare Earth. China's rare earth resources have the characteristics of large reserves, complete mineral varieties and good distribution of rare earth resources. Baiyun Obo Mine is the world's largest rare earth mine. The ion-adsorbing medium-heavy-earth rare earth ore in seven southern provinces such as Jiangxi and Guangdong is China's unique rare minerals. Sichuan and Shandong provinces have high-quality single-type fluorocarbon strontium rare earth ore. The provinces of Guangdong, Guangxi and Taiwan are also rich in monazite and xenotime. At present, China is the world's largest producer of rare earth ore and rare earth smelting and separating products. China's rare earth production accounts for about 90% of global production. The rest of the country, such as the former CIS, India, Thailand and other countries, has a total of more than 6,000 tons. Production contribution. China's rare earth reserves allocation map Note: The data is provided by Baotou Steel Rare Earth. 2. Industry development trend For a long time, rare earth enjoys the reputation of “modern industrial vitamins†and “mother of new materialsâ€, and is widely used in electronics, petrochemical, metallurgy, machinery, energy, light industry, energy protection, agriculture and other fields. . It is an indispensable "auxiliary" for modern high-tech industries. Mainly in the following aspects: (1) King of permanent magnets - NdFeB metal bismuth and bismuth alloy are mainly used to manufacture NdFeB permanent magnet materials, it is currently the most magnetic permanent magnet in the world, Known as the "king of permanent magnets." By replacing it with other permanent magnet materials, the volume and weight of the device can be doubled, resulting in an extremely wide range of applications. At present, the main application fields are: permanent magnet motor, generator, nuclear magnetic resonance imager, magnetic separator, acoustic speaker, magnetic drive, magnetic lifting, instrumentation, liquid magnetization, magnetic therapy equipment, etc., which have become automobile manufacturing and general purpose. Functional materials indispensable for the mechanical, electronic information industry and cutting-edge technology. In this century, China's NdFeB permanent magnet materials output exceeds Japan, becoming the world's largest producer, becoming the fastest growing rare earth functional material. (2) Application of rare earth in metallurgy-machine manufacturing The addition of trace rare earth in steel can improve the strength, toughness, wear resistance and corrosion resistance of steel. The addition of rare earths to non-ferrous metal alloys such as aluminum, magnesium and copper can refine grains and significantly improve overall performance. Rare earths are used in aluminum cables to improve material strength, electrical conductivity and corrosion resistance. (3) Application of rare earth in glass-ceramics The glass-ceramic industry is one of the important traditional application fields of rare earths. Rare earths are used as optical glass additives, clarifiers, decolorants, colorants and polishing powders in the glass industry and play an important role in the irreplaceability of other elements. (4) Application of rare earth nickel-hydrogen power battery Compared with traditional chemical power sources (such as lead acid, nickel cadmium, etc.), nickel-hydrogen power battery has pollution-free, high specific energy, high power, fast charge and discharge, abuse resistance, etc. Many excellent features have broad application and market prospects. (5) Nanocrystalline rare earth alloy magnetic powder nanocrystalline rare earth alloy magnetic powder industrialization, is the use of internationally advanced high-frequency high-frequency electromagnetic oscillation atomization rapid solidification powdering new technology and new technology with independent intellectual property rights, to build high-yield nanocrystals Rare earth alloy magnetic powder production line. The crystal grain size of the structure is several tens of nanometers, which can greatly reduce the oxygen content, improve the magnetic properties and corrosion resistance, and can reduce the production cost, so that the magnetic powder has an excellent performance price ratio. (6) New functional materials of rare earth giant magnetostrictive materials, mainly referred to as ferromagnetic magnetostrictive alloys (Terfenol-D), which have several times higher stretching performance than conventional magnetostrictive materials and piezoelectric ceramics. It is called a giant magnetostrictive material. Its mechanical response is fast, power density is high, and dimensional changes are large, which makes breakthroughs in electro-mechanical conversion technology and opens up a new era of magnetostrictive materials. Widely used in sonar, fuel injection, liquid valves, actuators and other precision control, space telescope adjustment mechanism and aircraft wing regulator, etc., is a rare earth functional material with broad development prospects, for the development of cutting-edge science, military technology And the modernization of traditional industries will play an important role. (7) Rare earth electrothermal material LaCrO3 is a new type of functional material, which can be used as a heating element for high temperature electric furnace in oxidizing atmosphere. It can be used for a long time at 1500~1800°C, and the resistance change is less than 5%. It is corrosion resistant and chemically stable, and it is easy to achieve precise temperature control. It is used for more than 4000 hours below 1750 °C. Mainly used for precision ceramic sintering, high temperature single crystal material preparation, material high temperature performance measurement, gemstone color treatment. It has a good development prospect in the fields of fuel cells, thermistors, high temperature conductive coatings and photocatalysis. (8) Application of rare earths in petrochemicals Rare earths can be used as catalysts for many inorganic and organic chemical reactions. For catalytic cracking of refined crude oil, the yield of light oil can be significantly improved. Direct distillation of petroleum yields only 15% to 20% of gasoline, while gasoline obtained by catalytic cracking with rare earth can reach 80% of crude oil. Rare earth catalysis is also used in many fields such as automotive exhaust gas purification, synthetic rubber, paint drying, plastic stabilizers and rare earth polymer materials. 3, the Chinese government's rectification of the rare earth industry China's rare earth industry has a pivotal position in the international arena. In recent years, in view of the disorderly development of China's rare earth industry, theft of mining and the lack of laws and regulations, and many other issues. In 2011, the Chinese government rushed to introduce a series of policies and regulations on the rare earth industry. On February 28, 2011, the Ministry of Environmental Protection officially issued the “Rare Earth Industry Pollutant Emission Standardsâ€, which will be implemented from October 1, 2011. The relevant person in charge of the Ministry of Environmental Protection said that this is the first national pollutant discharge standard issued by the Ministry of Environmental Protection during the “Twelfth Five-Year Plan†period. The formulation and implementation of the standard will help improve the entry threshold of the rare earth industry and accelerate the transformation of the rare earth industry. Ways to promote the structural adjustment of the rare earth industry and promote the sustainable and healthy development of the rare earth industry. On May 19, 2011, the State Council issued the "Several Opinions of the State Council on Promoting the Sustainable and Healthy Development of the Rare Earth Industry" (hereinafter referred to as Article 22). According to Article 22, after years of development, China's rare earth mining, smelting separation and application technology research and development have made great progress, and the scale of the industry has continued to expand. However, there are still illegal mining in the development of the rare earth industry. The smelting and separating capacity expansion is too fast, the ecological environment is destroyed and the resources are wasted seriously, the high-end application research and development lags behind, and the export order is chaotic, which seriously affects the healthy development of the industry. Article 22 from clear guiding ideology, basic principles and development goals; establish and improve the industry supervision system, strengthen and improve industry management; carry out special rectification of rare earths in accordance with the law, effectively maintain a good industrial order; accelerate the integration of rare earth industry, adjust and optimize the industrial structure; strengthen rare earth Resource reserves, vigorously develop rare earth application industry; strengthen organizational leadership, create a good development environment and other aspects of China's rare earth industry has been comprehensively elaborated and guided, can be described as the most important policy documents since the development of the rare earth industry. Article 22 clearly states that in 1-2 years, the establishment of standardized and orderly rare earth resources development, smelting separation and market circulation order, disorderly exploitation of resources, deterioration of ecological environment, blind expansion of production and export smuggling are effectively curbed. Basically form a rare earth industry pattern dominated by large enterprises. Article 22 also gives a clear division of labor for the first time. The Ministry of Industry and Information Technology, the Ministry of Commerce, the Information Office, the National Development and Reform Commission, the Ministry of Finance, the Ministry of Land and Resources, the General Administration of Customs, the Ministry of Environmental Protection and the Ministry of Supervision will jointly escort the rare earth industrial ship. On September 30, 2011, Premier Wen Jiabao signed the "Decision of the State Council on Amending the Provisional Regulations on the Resource Tax of the People's Republic of China" (hereinafter referred to as the decision), and decided to separately list the rare earth mineral tax rate in the non-ferrous metal ore, adjusted to 0.4- 60 yuan / ton, the resource tax adjustment program settled. In April 2011, with the approval of the State Council, the Ministry of Finance and the State Administration of Taxation have issued notices and decided to adjust the standard of raw ore resource tax and tax for rare earth minerals from April 1, 2011. The announcement of the State Council's order is to formalize and clarify resource tax adjustments. Since April 1st, the newly implemented standards for rare earth resource tax are: light rare earth, including bastnasite ore, monazite ore, 60 yuan / ton; medium and heavy rare earth, including xenotime, ionic rare earth ore, 30 yuan / ton. In the provisional regulations on resource tax before adjustment, rare earths are levied according to the upper limit of “other non-ferrous metal ore minesâ€, that is, the tax standard is only RMB 3/ton. This means that the rare earth resource tax will increase by 10 to 20 times. On April 8, 2012, China Rare Earth Industry Association was established. China Rare Earth Industry Association is a national first-level industry association, 13 non-ferrous metals associations, Chinalco, China Minmetals, China Nonferrous Metals, Baotou Steel Group, Luzhou Rare Earth, Guangyu Nonferrous and other 13 key units as promoters, currently a total of 155 members Units cover all aspects of the industrial chain. In the future, the Rare Earth Association will play a role as a “bridge†between enterprises and governments, upstream and downstream industries, and domestic and foreign markets. In addition, the association will carry out industry self-discipline, standardize industry order, and provide services such as production guidance, market research, intermediary services, trade friction warning, and enterprise rights protection for rare earth enterprises. 4. Analysis of the price of rare earth main products Baotou Steel Rare Earth is mainly engaged in the separation, processing, smelting and deep processing of light rare earth. The main elements of light rare earth are lanthanum, cerium, lanthanum and cerium. The following is the price trend of major products of light rare earth: the recent price chart of metal bismuth and antimony price from January 2011 to May 2012 Source: Nisshin Securities Research Institute January 2011-May 2012, the recent price chart of bismuth oxide, antimony oxide, antimony oxide and antimony oxide Source: Nisshin Securities Research Institute was affected by the state's macro-policy regulation of the rare earth industry in 2011. The price of major rare earth products, bismuth oxide and metal bismuth, experienced the price increase of the first half of the year, starting from July 2011. It fell and began to rebound in early March 2012. The rebound of bismuth products increased, and metal bismuth and strontium oxide increased by 20.41% and 26.39%, respectively; strontium oxide and strontium oxide increased by 12.9% and 16.77%, respectively. (II) Status and major competition of Baotou Steel's rare earth industry 1. Industry status Baotou Steel Rare Earth has a complete industrial chain from rare earth beneficiation, smelting, separation, scientific research, deep processing to application. It is the largest rare earth industrial base in China and even in the world. Leading enterprise in China's rare earth industry. The company is mainly engaged in the development and utilization of the rare earth reserves of the world's most abundant rare earth reserves, and has a unique resource advantage. As the only leading enterprise in the integration of light rare earths in the north, the advantages of Baotou Steel's rare earth resources are unparalleled. Since 2011, the Inner Mongolia Autonomous Region government has begun to implement the integration and elimination of upstream enterprises in the region. The 35 rare earth enterprises involved will be reorganized, compensated for closure, and phased out, and finally formed by the unified mining and uniform beneficiation of Baotou Steel. The franchise of rare earth smelting and separation, unified smelting, unified management and management. Baotou Steel Rare Earth has more than 80% of the country's light rare earth resources, and controls upstream mining and separation, almost completely grasping the pricing power of light rare earth. Baotou Steel Rare Earth, which has the dual advantages of resources and pricing power, is undoubtedly the leader of the rare earth industry. 2. The company's main competitive advantage company is the leading enterprise in China's rare earth industry. It has the advantages of resources, cost and technology. At present, Inner Mongolia Autonomous Region supports the company to integrate and reorganize rare earth upstream enterprises. The company has become the only one in northern China to be allowed to engage in rare earth upstream industry operations. the company. The rare earth produced by the company accounts for about 50% of the national rare earth market share, and it has the majority market share in light rare earths. There are no major competitors. In the market, due to the high content of heavy metals in the south, there is market competition. . However, the number of rare earth enterprises in the south is also small, mainly concentrated in the Zhangzhou area. The company's total amount of rare earth equivalent oxides accounts for 40% of the national market share. The production capacity of functional materials such as NdFeB, anode powder and polishing powder accounts for more than 20% of the national market share, and rare earth metal bismuth accounts for 30% of the national market share. In recent years, the company has continuously extended its industrial chain to the downstream. At present, the subsidiaries participating in the holding and holding are mainly involved in trade, rare earth permanent magnet materials, polishing powder, hydrogen storage batteries, luminescent materials, and permanent magnetometers. The company upgraded the depth of the industrial chain as the focus of future development, and has successively entered the field of rare earth deep processing such as NdFeB magnetic materials, rare earth permanent magnetic resonance imaging, polishing materials and nickel-hydrogen batteries, and related fund-raising projects have been put into production. Now, 5,000 tons / year of rare earth polishing materials, 5,000 tons of magnetic materials, 4,000 tons of rare earth permanent magnet alloys, and an annual production capacity of 300 permanent magnetometers have been formed. The company plans to form a production capacity of 30,000 tons/year of magnetic materials and permanent magnet alloys, 5,000 tons of polishing materials, 1,500 tons of hydrogen storage materials and 300 permanent magnetometers. Become the leader of the whole industry chain covering the five major rare earth functional materials. Due to its abundant rare earth resources, the company has an innate cost advantage in the development of rare earth functional materials. It is expected that the proportion of rare earth functional materials in the company's profits will increase significantly by 2015, and it is expected to account for more than half. The company uses its resource advantages to gradually establish its leading position in the industry and improve its control over the rare earth industry through “buy and purchase†and build rare earth exchanges. With the convening of the preparatory meeting for the rare earth spot exchange in March 2012, preparations have been put on the agenda. According to the "Reply of the Inner Mongolia Autonomous Region People's Government on the Establishment of the Baotou Rare Earth Products Exchange" (Internal Affairs [2011] No. 131) (hereinafter referred to as "Reply"), the corporate legal person of Baotou Rare Earth Exchange will be Baotou Steel Rare Earth and Inner Mongolia Gaoxin Holdings Co., Ltd. is the main body to carry out related work on rare earth product transactions. The preparation and establishment of the rare earth exchange will change the current chaotic situation of the rare earth market and enhance the pricing power of Baotou Steel Rare Earth in the domestic and global rare earth markets. At the same time, Baotou Steel Rare Earth Holding Co., Ltd. Inner Mongolia Baotou Steel Rare Earth International Trading Co., Ltd. concentrates on the unified procurement, storage and sales of rare earth oxides, compounds, rare earth metals and synthetic products, which is conducive to stabilizing market supply and protecting rare earth prices. In the long run, both the establishment of the rare earth exchange and the establishment of the rare earth trading company have laid the foundation for the company's centralized production, operation, acquisition, sales and pricing, and will further enhance the company's pricing power in the international market.Stainless Steel Thin Wall Welded Pipes
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