Minmetals' rare earth net profit fell 60% in the first three quarters

Minmetals' rare earth net profit fell 60% in the first three quarters According to the rare earth industry leader Minmetals Rare Earth announced the first three quarters of the performance report, from January to September 2013, the company achieved operating income of 101 million yuan, down 87.85% year-on-year, attributable to shareholders of listed companies net profit of 239.759 million yuan, a year-on-year decrease of 61.83% .

The company stated that due to the sluggish market in the first half of the year, rare earth prices continued to decline. Despite the rebound in rare earth prices and gross profit margin from July to September, the overall sales price, quantity, and gross profit margin of the market products continued to decline year-on-year, resulting in the top three companies. Decline in quarterly results.

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