China likely to keep rare earth supplies tight |
| Reuters - Oct 28, 2010 |
China is likely to keep strict controls of rare elements used in wind turbines, batteries and high-tech devices, despite pressure from the U.S. and Japan to loosen export constraints, a metals analyst said.
The world's most populous country has already tightened control on raw materials it considers critical to its its rapid economic development, and would have little reason to back down on the rare earths issues, said Charl Malan, precious metals and mining analyst at Van Eck Associates Corp, which on Thursday launched the first U.S.-listed exchange-traded fund focused on rare earths and other so-called strategic metals.
"The Chinese are hungry in many other commodities and they have looked after their own supply and security of supply in many other commodities first and foremost," Malan said in an interview. "Why would it be any different in this event? Why would they not ensure that they have the sufficient supply of processed material for their own use before they send it out to the U.S., etc.?"
Read Full Article from Reuters
- Posted: 2010-10-28 23:55:17
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