China's rare earth stocks climb on fears of prolonged trade war

China Rare Earth Holdings

31/05/2019 04:55

** Shares in China's rare earth-related firms climb on fears
of a prolonged trade war, with speculation brewing the material
might be used as a weapon in the trade front 
    ** China is willing to meet reasonable demand for rare
earths from other countries, but it would be unacceptable that
countries using Chinese rare earths to manufacture products
would turn around and suppress China, its commerce ministry said
 urn:newsml:reuters.com:*:nB9N22702P 
    ** China's President Xi Jinping and U.S. President Donald
Trump are likely to find it "difficult" to make major progress
toward ending their countries' trade war when they meet at a G20
summit in Japan in June, a former Chinese central bank chief
said on Friday  urn:newsml:reuters.com:*:nL4N2370RV 
    ** That came after Beijing said on Thursday that provoking
trade disputes is "naked economic terrorism", ramping up the
rhetoric against the United States  urn:newsml:reuters.com:*:nL4N2360M2  
    ** Leading the charge, Shenghe Resources Holding Co Ltd
 600392.SS , Beijing Zhong Ke San Huan High-Tech Co Ltd
 000970.SZ  and Jl Mag Rare-Earth Co Ltd  300748.SZ  all soar by
the upper limit of 10% 
    ** Rising Nonferrous Metals Share Co Ltd  600259.SS , China
Nonferrous Metal Industry  000758.SZ , China Northern Rare Earth
Group High-Tech Co Ltd  600111.SS , Inner Mongolia BaoTou Steel
Union Co Ltd  600010.SS , China Minmetals Rare Earth Co Ltd
 000831.SZ , Xiamen Tungsten Co Ltd  600549.SS  advance by
3.4%-6.9%  
    ** In Hong Kong, China Rare Earth Holdings Ltd  0769.HK 
adds 3%
    ** As of previous close, the CSI rare earth industry
 .CSI930598  had gained 51.7% so far this year 

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