China's rare earth firms rise as Beijing considers U.S. export curbs

China Rare Earth Holdings

29/05/2019 02:35

** Shares of China's rare earth-related firms climb, as
Beijing mulls restricting exports to the United States
    ** Beijing is "seriously considering" restricting exports to
the United States of rare earths, 17 chemical elements used in
high-tech consumer electronics and military equipment, the
editor in chief of China's Global Times said on Tuesday
 urn:newsml:reuters.com:*:nL4N23433D 
    ** Rising trade tensions have led to concerns that Beijing
will use its dominant position as a supplier of rare earths for
leverage in the trade war between the United States and China 
    ** As of previous close, the CSI rare earth industry index
 .CSI930598  had gained 45.4% so far this year 
    ** Leading the charge, shares of China Rare Earth Holdings
Ltd  0769.HK  soar more than 20%
    ** Shares of JL MAG Rare-Earth Co Ltd  300748.SZ , which
Chinese president Xi Jinping visited last week, surge another
10% to a record high, having gained 134.1% in May alone
    ** Innuovo Technology Co Ltd  000795.SZ , China Northern
Rare Earth Group High-Tech Co Ltd  600111.SS , Xiamen Tungsten
Co Ltd  600549.SS  and China Minmetals Rare Earth Co Ltd
 000831.SZ  jump more than 4% each

 ((luoyan.liu@thomsonreuters.com; Reuters Messaging:
luoyan.liu.thomsonreuters.com@reuters.net))