US markets closed up overnight as a new commentary from the Fed caused yields to slightly backtrack, sparking fresh confidence in another rate hike pause that will temper markets. The Dow Jones rose 0.6%, while the Nasdaq gained 0.8% and the S&P 500 also added 0.7%, marking a solid run over the past week that has taken the index from around 4,200 all the way up to 4,350.
Upwards pressure on rare earths prices have been once again propelled after Myanmar’s Kachin State halted mining. Increasing suspension of mining activities in Myanmar have reduced the country’s exports of rare earth materials to China to around 50% of their capacity, which is significant given they accounted for 38% of rare earth imports into China during the first six months of 2023.
This has seen prices for some rare earths significantly increasing in value, with dysprosium oxide up to US$356/kg two weeks ago - its highest level since May 2022. Terbium oxide prices also pushed through US$1,174/kg. The VanEck Rare Earth/Strategic Metals ETF was up 3.3% overnight
Its about time Govt around the world stopped big noting these huge cash subsidies that are supposedly coming in to play and actually started backing their so called intent in and issuing the funds where they are needed most You cant manufacture Jack if you dont have the ore or the prcessing facilities set in place
it is an absolute joke the way Tredaue jumped on the bandwagon and has let this $90mil investment to go into bankruptcy through lack of funding and overall subsidy
what private investment would venture into this field its never going to work against china without subsidy full stop
promises promises govt around the world all the same
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