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).