Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. (Baotou, China), the world's biggest producer of rare earths, says it has suspended rare earth smelting and separation work for one month, starting today. The move is intended to shore up rare earth prices, which have sagged recently. Its specific aim is "balancing supply and demand," the company said in a recent filing with the Shanghai stock exchange. Baotou Steel Rare-Earth Hi-Tech Co. accounts for almost 50% of the world's production of light rare earths. Prices for rare earths soared on international markets in 2010 and early 2011 due to strong demand and because China cut rare earth export quotas.
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