Ann: Trading Halt, page-20

RE will never develop a commodity mkt with any depth simply because of the very limited numbers of downstream customers across the major demand segments, whether it be metals/magnets, FCC or autocat/polishing.

China holds 85% of magnet demand and the bulk of that flows down directly thru SOE silos, virtually the other 15% flows to the four largest Japanese mag makers on LT contract. Given ~70% of revenues flow from NdPr and 85% demand China domestic who or what is going to sustain a commodity mkt outside China, where just 15% passes thru Baotou Exchange currently.

BTW, you really need to update yourself on CNRE and stop taking those hackneyed media images from 2011 seriously:






Mind you it's quite clear they are yet to recover cost of their enviro investment, or any other for that matter:



China controls 85% magnet mkt now, it is continually adding assets to control 85% magnet mkt into the future, pointless pointing at fancy growth projections (yet to materialise) without being able to identify where exactly that is gong to happen ROW, unless of course you are happy to supply con to the Dragon.