China defended its export controls on rare earth minerals on Thursday, saying that they were in line with World Trade Organization rules, after a government move to slash export quotas on rare earths sparked trade concerns
The froth in Rare Earth Metals makes other bubbles look tame. Rare Earth players like MCP, AVL and REE saw run-ups in the 400% range in 2010, thanks to a shortage potential tied to Chinese export quotas. When it became clear black market smuggling undermined the Chinese quotas, and that actual production from non-Chinese miners was years off, share prices crashed by 90% or more.
China is considering new export quotas on rare earth alloys, a report said Thursday -- a move that would further restrict shipments of the minerals used in a variety of high-tech industries.The country -- which has a near-monopoly in the industry -- is also mulling separate export quotas for heavy and light rare earths, Dow Jones Newswires reported, citing an unnamed official with knowledge of the plans.The commerce ministry declined to comment on the report when contacted by AFP.
China, which is locked in a dispute with major trading partners over its control of rare earth minerals, on Thursday announced additional export quotas for this year.The Ministry of Commerce said it would allow companies to potentially export an additional 10,680 tonnes of rare earths, bringing the total for this year to 21,226 tonnes.The United States, European Union and Japan lodged a complaint with the World Trade Organization in March, saying China was choking off exports of rare earths to unfairly benefit domestic industries.
By Markus Aarnio:China's control of the rare earth market has come under increased scrutiny since 2010. Over the past several years, China has slashed its export quotas of rare earth minerals to cope with their growing domestic demand. U.S.
China announced Tuesday it will cut its export quotas for rare earth minerals by more than 11 percent in the first half of 2011, further shrinking supplies of metals needed to make a range of high-tech products after Beijing slashed quotas for 2010.
Reuters - China announced on Tuesday it will cut its export quotas for rare earth minerals by more than 11 percent in the first half of 2011, further shrinking supplies of metals needed to make a range of high-tech products after Beijing slashed quotas for 2010.
Stockerblog submits: Rare earth metals, also known as rare earth minerals or rare earth elements, have made headlines during the last couple weeks after China, which produces over 95% of the metals, reported that it would reduce its export quotas by more than 10% during the first six months of 2011. The news caused rare earth metals stocks to explode. As an example, Rare Element Resources Ltd.
By Tom Lydon:
China is the world’s largest rare earth metals supplier and is reported to keep 2012 export quotas in line with 2011. Higher prices and a global slowdown are influencing this decision, along with an attempt to dominate the segment of the market.
BEIJING (Reuters) - China announced on Tuesday it will cut its export quotas for rare earth minerals by more than 11 percent in the first half of 2011, further shrinking supplies of metals needed to...