China, the world’s largest supplier of rare earths, could double exports this year to capitalize on short-term price increases, according to the Business Insider. The Chinese Ministry of Commerce revealed that Chinese exports only made up 49% of the government’s quota in the first eleven months of last year due to slower global demand. [Toyota’s Hybrid Tech May Pressure Rare Earth ETF]
“Export quotas may be met this year as overseas demand recovers,” Wang Caifeng, a former official overseeing the rare earth industry with the Ministry of Industry and Information Technology, said in the report.
Market Vectors Rare Earth/ Strategic Metals
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Max Chen contributed to this article.