China Will Launch A Rare-Earth Trading Platform In August


China’s largest rare-earths manufacturer Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Co. Ltd plans to launch a physical-trading platform for rare earths, according to the WSJ.

 

State-owned Batou will launch its first spot-trading platform on August 8.

China controls about 95 percent of rare earth metals which are used in hi-tech and defense sectors. And such a platform would help the country exercise more control in the pricing of important minerals.

From the WSJ:

“The market for rare earths is largely opaque because they aren’t sold in public markets and move in small volumes, and only a few private-sector and government sources provide pricing data. A trading platform could provide some clarity, but if successful it could also give a China-based entity a role on determining rare-earth prices.”

rare earth

 

Read more: http://www.businessinsider.com/china–to-launch-rare-earth-trading-platform-2012-7#ixzz20QE2Qf2Z

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