CHINA'S top rare earth producer Baotou Steel Rare-Earth (Group) High-Tech Co yesterday said it would markedly increase its market share of five major rare earth products, including magnetic materials in the next five years.

General Manager Zhang Zhong said the company would enlarge its production capacity of rare earth magnets from 6,000 tons a year to 10,000 tons by 2015.

The company will also boost its production capacity of rare earth polishing materials from 5,000 to 10,000 tons, and that of hydrogen storage alloys, crucial for making batteries for electric vehicles, from 4,000 to 6,000 tons.

The alloys of luminescence materials and catalytic materials with rare earth elements would also become key products of the company during the period, Zhang said.