China could be doing this to avoid a diplomatic row, which is just not worth it especially given how close Lynas and Moly are to plugging the supply gap. If China is truly interested in preserving its REE supplies (I believe this is the real reason, so that one day China won't have to depend on other countries for the REEs it consumes) and reducing environmental pollution, once companies like LYC and MCP come online they can always reduce their quotas again.
I think this strengthens the case for Lynas. Smaller companies with higher per kg average costs due to poorer economies of scale are more susceptible to REE supply/price changes than Lynas, making Lynas more lucrative as a REE investment.
china 2nd half quota announced, page-10
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