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CapitalVue reported that a rare earth selloff by Chinese companies caused rare earth prices to fall.
CapitalVue reported that a rare earth selloff by Chinese companies caused rare earth prices to fall.
AS quoted in the market news:
With recent media reports that the government is planning to introduce specialized invoices for the rare earth sector in order to better control industry output, curb illegal sales and smuggling activities, small companies which possess rare earths from unidentified sources had begun to dump their inventory of rare earth minerals on the market. This led to the price of such rare earth minerals plunging to 100,000 yuan per ton, compared with the price of more than 300,000 yuan per ton for rare earth minerals from official sources.
Click here to read the full CapitalVue report.