China's chipmaking metals stocks rally for second session after export curb plans

China Rare Earth Holdings

05/07/2023 03:21

** Shares in some Chinese metals companies rally for a
second session after the country said on Monday it will control
exports of some metals widely used in the semiconductor industry
    ** Exporters will be required to seek permission to ship
some gallium and germanium products
    ** Move comes amid an escalating war between China and the
U.S. over access to high-tech microchips, with Washington
mulling new restrictions on their shipment to China
    ** Yunnan Lincang Xinyuan Germanium Industry Co  002428.SZ 
jumps 10% by the daily upper limit; Yunnan Chihong Zinc &
Germanium Co  600497.SS  climbs more than 7%, while China Rare
Earth Resources and Technology Co  000831.SZ  rises more than 4%
    ** Securities representative from Chihong Zinc & Germanium
told local media that a rise in germanium prices would benefit
co's revenue growth
    ** China's CSI Rare Earth Industry Index  .CSI930598  adds
more than 1%, against a 0.5% drop in the benchmark CSI 300 Index
 .CSI300 



 (Shanghai Newsroom)
 ((Jason.Xue@thomsonreuters.com))