Northern Rare Earth to purchase 320000t of rare earth concentrate from Bao Gang United Steel in 2023
2023-03-15 16:26:24 [Print]
Northern Rare Earth announced on March 14 that it plans to sign a rare earth concentrate supply contract for 2023 with Bao Gang United Steel. The trading price of rare earth concentrate in the first quarter of 2023 is RMB35,313/t (USD5,127/t) Ex-VAT (dry measure, REO=50%), and the price excluding tax increases or decreases by RMB706.26/t (USD103/t) for every 1% increase or decrease in REO. In 2023, the company intends to purchase 320,000t of rare earth concentrate (dry measure, REO=50%) from Bao Gang United Steel according to the production plan, and the total amount of related transactions of rare earth concentrate is expected to not exceed 15 billion yuan (2.18 billion US dollars).
