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Posted Thu Jan 5 2012: from
AP:
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China cuts 2012 rare earths export quota http://apocadocs.com/s.pl?1325786625
China accounts for 97 percent of rare earth output and its 2009 decision to curb exports while it builds up an industry to create products made with them alarmed foreign companies that depend on Chinese supplies.
In its latest quota, the Commerce Ministry said exporters will be allowed to sell 10,546 tons of rare earths in the first half of 2012. That is a 27 percent reduction from the quota for the first half of 2011....
Rare earths are 17 elements including cerium, dysprosium and lanthanum that are used in manufacturing flat-screen TVs, batteries for electric cars and wind turbines. They also used in some high-tech weapons....
Prices in China have fallen sharply since August, declining by 45 percent for neodymium oxide, by 33 percent for terbium oxide and by 31 percent for lanthanum oxide, according to Lynas Corp., an Australian rare earths producer.
Its figures showed an equally striking gap between prices in China and abroad, with lanthanum oxide costing triple the Chinese level on global markets, neodymium more than twice as much and terbium oxide near twice as much.
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[Read more stories about:
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'Doc Jim says:
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Sounds like the unobtainium cartel at work.
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