Rare Earth Stocks in China Rise After Minmetals Receives Approval

Rare earth stocks in China received a thrust when China Minmetals Corp. was given approval to form a group of provincial producers as part of a government initiative to reform the industry.

China is also set to loosen its export restrictions on rare earths after a panel at the World Trade Organization in March determined that China didn’t adequately justify imposing export duties and quotas on the goods.

As quoted in the market news:

Rare earths stocks in China climbed after China Minmetals Corp. received government approval to form a group of provincial producers as part of government moves to reform the industry.

China Minmetals Rare Earth co., its rare earth unit, rose 4.3 percent to close at 27.80 yuan in Shanghai after gaining as much as 8.2 percent. The benchmark Shanghai Composite Index closed up 4.3 percent.

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