Business Insider reported that the Chinese Ministry of Commerce recently announced a second set of Rare Earth export quotas for 2012.
Brandon Tirpak, analyst at Asian Metals, stated:
This past July, the Chinese government announced, without elaboration, that it would create a stockpile of roughly 6 billion (B) renminbi-worth of REEs. That effort will begin within the next several weeks. A lot of people expect to see some price stabilization as a result, and if you take note of figures published by Asian Metal, the rate at which prices are falling has slowed drastically over the last several months.
“Attention investors: China is tightening its grips on the rare earth industry forcing plant closures on illegal mining. Find out how to take advantage of this trend.”
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