China’s Attempt to Control Rare Earths Causes Prices to Drop 133%

IBTimes reported that China’s rare earth controls have caused prices of rare earths to plummet.

As quoted in the market news:

The price tumbled to RMB 100,000 ($15,740) per ton in recent days in spite of a halt to production of China’s two biggest domestic rare-earth producers, including Inner Mongolia Baotou Steel Group Rare Earth Hi-Tech. Reports have circulated that China will begin to tighten its reins over the coveted rare earths industry by issuing special invoices to local producers and smelters that have passed environmental standards.

Click here to read the full IBTimes report.