company news about Baotou Steel Co., Ltd.: Re-signed a rare earth concentrate related transaction agreement with Northern Rare Earth

Baotou Steel Co., Ltd. announced that the company intends to re-sign the "Rare Earth Concentrate Supply Contract" with China North Rare Earth (Group) High-Tech Co., Ltd. It is planned that the transaction price of rare earth concentrates between the two parties will be adjusted to 39189 excluding tax from July 1, 2022. RMB/ton (dry volume, REO=50%), for every 1% increase or decrease in REO, the price excluding tax will increase or decrease by 783.78 yuan/ton (dry volume), and the total transaction volume of rare earth concentrates in 2022 will not exceed 230,000 tons (dry volume). amount, REO=50%). It will be implemented after both parties perform relevant decision-making procedures.

The two parties agreed that the transaction price of rare earth concentrates will be determined on a quarterly basis. The two parties negotiate and adjust the rare earth concentrate transaction price according to the price fluctuations of the rare earth market products and the actual quality. If the price of rare earth products in the rare earth market is stable within a quarter, the transaction price of rare earth concentrates will not be adjusted.

                                      Forwarded from Shanghai Nonferrous Network https://www.smm.cn/news/101869185