Tuesday, May 28, 2019

"China considers limiting rare-earth exports to US: report"

With 10 minutes to the ASX pre-market open... ,

From The Hill:

China's government is considering plans to use the country's dominance in the rare-earth metals market against the U.S. as a trade war between the two nations progresses.

China's government is "seriously considering" restricting the export of rare metals used in electronics manufacturing to the U.S., the editor in chief of Global Times, China's party-run English-language newspaper, tweeted Tuesday, Reuters reported.

"Based on what I know, China is seriously considering restricting rare earth exports to the U.S. China may also take other countermeasures in the future," he reportedly wrote.
The Global Times, while not officially run by the federal government, is published and distributed by the Communist Party’s People’s Party, the dominant party in China.

Chinese shipments accounted for 80 percent of all U.S. imports of rare-earth minerals between 2014 and 2017, according to Reuters, suggesting that U.S. markets could be in for a major blow if the government carries out plans to restrict business to the U.S....MORE
If interested see also May 20ths "Xi Jinping visits China rare earth plant amid talk of use as trade war weapon ".

I'm Beginning To Doubt the Efficient Market Hypothesis: Rare Earths Edition