This action has been confirmed in the last 20 minutes by the Hong Kong Economic Journal. Seems to be a 6-month shutdown. This is encouraging news for all the reasons outlined above by myself, philh9 and omgwen3rds.
We are not out of the woods but I expect this will go some way towards modifying the downwards trajectory of most REOs.
Now we just need to watch the demand side.
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http://www.ejinsight.com/chinaDigest/article/id/90364
Baotou Rare-Earth suspends operations, filing says
Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co Ltd. (600111.CN) said it has suspended operations in its rare earth plants for six months from Monday
baotou's concentrate plant shut down 6 months, page-16
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Last
$6.80 |
Change
0.040(0.59%) |
Mkt cap ! $6.318B | |||
| Open | High | Low | Value | Volume |
| $6.66 | $6.80 | $6.66 | $1.075M | 160.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 1202 | $6.79 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.80 | 4182 | 8 |
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| Last trade - 10.18am 09/09/2024 (20 minute delay) ? |
| LYC (ASX) Chart |