Asian Metal visits Jinmeng Huitong, Shengyou Rare Earth, Solvay Rare Earth and Mengwei Rare Earth

Aiming to learn about the development of rare earth industry and conduct field investigation on downstream demand, Zhao Hao, Sales Director of Asian Metal, and Eric Qiu, Senior Product Manager & Senior Analyst of Asian Metal, visited Baotou Jinmeng Huitong Trade Co., Ltd., Baotou Shengyou Rare Earth Co., Ltd., Baotou Solvay Rare Earth Co., Ltd. and Baotou Mengwei Rare Earth New Material Development Co., Ltd. During this period, Asian Metal discussed rare earth metal, magnet and polishing powder development in depth with these companies mentioned above.

On the morning of November 29, Asian Metal visited Baotou Jinmeng Huitong Trade Co., Ltd. and had a talk with Sun Xiaoping, General Manager of the company. Mr. Sun introduced the business of Jinmeng Rare Earth Group, including rare earth separation, smelting, NdFeB magnet, polishing powder and waste recycling production chain. The two sides talked about the development trend in depth in NdFeB magnet industry. Mr. Sun thanked for the support and service from Asian Metal and expected Asian Metal to expand investigation on rare earth downstream industries and demand from end users. He spoke highly of Asian Metal's service and said that he would firmly support the 11th International Rare Earth Summit to be held in Qingdao, Shandong on May 9-10, 2019.

Later on, Asian Metal visited Baotou Shengyou Rare Earth Co., Ltd. and had a talk with Mi Yan, General Manager, and Zhou Jun, Deputy General Manager of the company. Mr. Mi led a tour of the metal production line and the newly established environmental protection line. Then the two sides talked about the rare earth development status in Baotou and production cost on electricity charge, material ratio, accessory materials in details. Mr. Mi disclosed that smelters were facing thin profits, tight cash flow and other prominent problems, and the price fluctuations also brought great risk for operation and management of metal plants.

On the afternoon of November 29, Asian Metal visited Baotou Solvay Rare Earth Co., Ltd., and had a deeply discussion with Sales Manager Fu Bayi. Mr. Fu introduced the history and development of Baotou Solvay Rare Earth and the two parties communicated about sales condition and clients' demand of polishing powder. Eric Qiu showed the price trend of rare earth oxide, LaCe carbonate and white polishing powder, as well as the output and demand status for the industry. The two sides expressed they would communicate with each other more often. Baotou Solvay Rare Earth expected Asian Metal to offer them the timely and accurate market information continuously.

After then, Asian Metal visited Baotou Mengwei Rare Earth New Material Development Co., Ltd. and talked with Guo Yanjun, General Manager and Li Wen Tao, Deputy General Manager of the company. Mr. Guo revealed that the demand for polishing powder softens this year, and he predicted the major producers' output would decrease by about 30% this year due to sufficient stocks in spot market. The two sides communicated about the markets of LaCe carbonate, major rare earth oxide and metal products. Mr. Guo highly praised Asian Metal's marketing service and was going to attend 11th International Rare Earth Summit to be held on May 9-10.