you're reading...
China Trade Mag (Chinese Trade and Business)

China strengthens monopoly in rare-earth minerals

Chinese state-owned Baotou Steel Rare-Earth High-Tech Co and Jiangxi Copper Corp, two of China’s largest rare-earth miners, have announced a unified pricing system, according to the China Daily.

China supplies 95% of the world’s rare-earth oxides, so therefore Baotou and Jianxi will virtually control the market, good news for China as it can control use and price by foreign companies.

Yu Zongsen, former secretary-general of the Chinese Society of Rare Earths, was reported as saying “Enhancing the concentration of the rare-earth sector will benefit the Chinese side and give it a bigger say in global markets.”

Since the end of last year, the price of some rare-earths has risen 60% , China Daily added.

About Craig Hill

Teacher and Writer. Writing has been cited in New York Times, BBC, Fox News, Aljazeera, Philippines Star, South China Morning Post, National Interest, news.com.au, Wikipedia and others.


One thought on “China strengthens monopoly in rare-earth minerals

  1. Reblogged this on iLook China.

    Posted by Lloyd Lofthouse | March 22, 2012, 09:51

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

If you liked what you just read, click "Subscribe" to become a follower of the Craig Hill site. You will receive an email each time a new post is published.

Join 18,420 other subscribers

Follow me on Twitter

%d bloggers like this: