The rare earth group of key elements is counted among the most important resources for a country's development of high-tech industry. The past year has been eventful for the world and remarkable for the rare earth market which has begun to retreat after the rapid growth of the previous two years. The financial crisis has continued to deepen since the second-half of 2008, and very much altered the commercial aspect of the rare earth market.
Due to the fundamentally catastrophic economic conditions that have only taken place once in the last 100 years, rare earth prices dropped sharply after peaking during the last decade. The price of neodymium, a barometer of the rare earth market, dropped 50% last two years while most other rare earths dropped by 20-30%
China is still the largest country in terms of rare earth reserves, production, consumption, and exportation. The Chinese government has focused on its policy to protect rare earth resources and optimize efficiency of the market. The question remains, however, how to coordinate the industrial chain of rare earth production, processing, and exporting enterprises? Japan, another big consumer of rare earth, is suffering the most severe recession in 35 years, and the country's automotive and electronics industry has dropped sharply. How do Japanese rare earth enterprises adjust their supply? Are there any updated progressions and problems in the field of rare earth applications? There are innumerous changes in rare earth supply around the world. What is the prospect of development and supply for rare earth in the US and Australia? What is the rare earth market tendency in Europe?
Asianmetal.com has been engaged in international rare earth information analysis for nearly ten years and has earned worldwide recognition for its coverage. In order to build an interactive platform for rare earth participants, we will hold the Rare Earth Summit 2010. The world's most well-known enterprises will make suggestions on new development initiatives and strategies for the rare earth market
