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Baotou Steel Rare Earth projects hefty Q1 profits

 

April 10, 2012 (Source: China Daily) — Inner Mongolia Baotou Steel Rare Earth Hi-Tech Co, the nation’s largest rare earth producer, said Monday that its first-quarter profits were expected to jump at least 130 percent year-on-year.

The company had shifted its marketing strategies in a timely manner and received more sales from big customers during the first quarter, which helped boost its profits, the rare earth producer said in a statement filed to the Shanghai Stock Exchange.

The company’s net profits hit 483.86 million yuan ($76.8 million) during the first quarter of 2011. Earnings per share stood at 0.4 yuan, according to the statement.

In late March, the producer reported high 2011 profits with earnings skyrocketing 363.33 percent to 3.48 billion yuan.

The company’s shares dipped 0.11 percent to close at 71.59 yuan on Monday.

How Do Rare Earth Metals Companies Like Baotou Steel and Hastings Rare Metals Generate Profits?

Baotou Steel and Hastings Rare Metals generate profits through the extraction and sale of rare earth metals. As the global demand for these resources continues to rise, both companies have seen their shares soar in trading afternoon, leading to increased profitability and market value.

How is China’s threat affecting the profits of Baotou Steel Rare Earth projects?

The growing threat from China’s rare earth market has significantly impacted the profits of Baotou Steel Rare Earth projects. This is due to China’s dominant position in the global rare earth market, which has led to fluctuating prices and export restrictions, resulting in challenges for Baotou Steel’s profitability.

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