Rare Earth Stocks Rally. USA Rare Earth up 11.7%; MP Materials up 5%; The Metals, Energy Fuels up 2%
Rare Earth stocks rallied in premarket trading. USA Rare Earth up 11.7%; MP Materials up 5%; NioCorp Developments up 3%; The Metals, Energy Fuels up 2%.
Last week CNN reported that China appeared to be maintaining tight control over its rare-earth exports despite the 90-day trade-war truce agreed to with the U.S. Keeping control gives China leverage in talks, as the elements are widely used in a variety of products including cellphones, electric vehicles and defense equipment.
The issue of unblocking the flow of critical minerals has emerged as a flashpoint between the world’s two biggest economies. On Friday, US President Donald Trump accused Beijing of violating the trade pact negotiated in Geneva, after members of his administration complained China hadn’t sped up exports of rare earths.
In mid-May, China suspended a ban on exports of items with both military and civil applications — likely including some rare earths — to 28 American companies, as part of the trade detente with the US.
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