China's largest rare-earth producer said Tuesday it would suspend output at some plants for another month,extending a halt started in late October to try and stem falling prices.
Baotou Steel Rare-Earth will halt firing,smelting and separation of rare earths at its factories in Baotou,North China's Inner Mongolia Autonomous Region for one more month
It said"The rare earth market recovered slightly in the two months when production was suspended.But there has been no fundamental turnaround."
The firm,also called Inner Mongolia Baotou Steel Rare-Earth(Group)Hi-Tech,on October 23 started halting production at almost all of its plants,including two in East China's Jiangxi Province.
China produces more than 95%of the world's rare earths,17 elements crucial for making a range of high tech products.