Rare Earth Prices to Stay High as China Extends Crackdown

Reuters reported that a rare earth industry official said China’s control over the rare earth sector will keep prices high.

The market news is quoted as saying:

Foreign governments have cried foul after Beijing imposed tougher export restrictions on domestic producers, cutting off supplies and driving up global prices. This year’s export quota was set at 30,184 tonnes, down about 40 percent in just two years, with annual output also capped at 93,800 tonnes.

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