Foreign Producers Impacted as China Scraps Rare Earth Export Quotas

Asia Briefing reported that China’s scrapping of rare earth export quotas has had an adverse effect on non-Chinese producers.

As quoted in the market news:

While Chinese rare earth producers are consolidating with state support, non-Chinese producers like Molycorp and Lynas have struggled since rare earth prices peaked in 2011. Molycorp is at the brink of bankruptcy, while a combination of low rare earth prices and a high debt burden led to the lowest stock prices in 2014 for Lynas in its 14-year history.

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