Officials: Let up on rare earths
China's regulators are trying to cool down the price rally of rare earth, which has seen a sustained price increase since the beginning of this year, after five years of downturn.
The National Rare Earth Office issued a statement on Aug 8 to the six largest rare earth groups in China, including Aluminum Corporation of China Ltd and China North Rare Earth (Group) Hi-tech Co Ltd, asking them to help stabilize the rare earth market, according to industry insiders.
The statement asks the six groups to promote healthy development of the rare earth market, by strengthening industry self-discipline, maintaining production and operational order and strictly following the production control plan.
http://www.chinadaily.com.cn/bizchina/2017-08/10/content_30402190.htm
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