Shares in rare earth-related companies in China soared on Tuesday, a day after C...
SHANGHAI - Shares in rare earth-related companies in China soared on Tuesday, a day after Chinese President Xi Jinping visited a rare earth firm in southern China, sparking speculation the sector could be the next front in the Sino-U.S. trade war.
Beijing, however, has raised tariffs on imports of U.S. rare earth metal ores from 10 percent to 25 percent from June 1, making it less economical to process the material in China. Shares in JL MAG Rare-Earth Co Ltd surged the maximum limit of 10% on Monday following Xi’s visit, and rose another 10% on Tuesday.
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