China's Galaxy Magnets Expects Rise in Rare Earth Prices

China's Galaxy Magnets said in a record for its investor relations activities that it expects a rise in rare earth prices

BEIJING (SMM): China’s Galaxy Magnets said in a record for its investor relations activities that it expects a rise in rare earth prices, DZH News reported.

The company holds that the scarcity of rare earths and China’s rare earth industry consolidation will drive rare earth prices up.

Galaxy Magnets specializes in R&D and production of NdFeB magnet, and its subsidiary Leshan Galaxy Yuantong Magnet Powder registered a 59.67% year-on-year growth in net profits in the first three quarters this year, according to data from Founder Securities.
 

Courtesy: www.metal.com