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China Stocks: Beijing Tongrentang, China Vanke, Xiamen Tungsten
Jul. 15, 2011 07:11AM PST
Critical MetalsBloomberg reports that Xiamen Tungsten and other companies made unusual moves today on the Chinese market.
Bloomberg reports that Xiamen Tungsten and other companies made unusual moves today on the Chinese market.
The market news is quoted as saying,
Xiamen Tungsten Co. (600549 CH), China’s biggest tungsten product maker, added 5.2 percent to 45.09 yuan, the biggest gain since March 16. China almost doubled its export quota of rare earth for the second half of 2011. The country raised the quota for 26 companies to 15,738 metric tons yesterday. That compares with 7,976 tons a year earlier and brings the limit to 30,184 tons for 2011, little changed from 30,258 tons in 2010, government figures show.