Rare Earth Stocks Rise in Shanghai on Hunan Corun’s Plans to Buy Yiyang Hongyuan Rare Earth Co

Bloomberg reported that rare earth stocks were given a bump in Shanghai as investors welcomed the news that hybrid car battery maker Hunan Corun New Energy plans to buy Yiyang Hongyuan Rare Earth Co.

As quoted in the market report:

The planned purchase revives expectations of consolidation through the industry chain,” said Zhang Fang, a Beijing-based analyst with China Securities Co. “The market is bullish on rare earth stocks.

To view the whole Bloomberg report, click here.