March 14, 2012 (Excerpt Source: Reuters) –RARE EARTH ROW BOOSTS METALS STOCKS
Also strong were rare earths suppliers, with China seen unlikely to back down after the United States, Europe and Japan joined forces to challenge its restrictions on exports of rare-earth metals, escalating a trade row over access to some of the most important raw materials used in advanced technologies.
Jiangsu-based China Rare Earth Holdings Ltd jumped 13 percent in midday volume, more than five times its 30-day average, to hit its highest since July last year.
In Shanghai, Inner Mongolia Baotou Rare-Earth (Group) Co Ltd rose 3.2 percent, with turnover in the broader Shanghai market hitting its highest at midday since November 3.
Strength in the sector also cheered other growth-sensitive metal stocks. Inner Mongolia Baotou Steel Union Co Ltd jumped the maximum 10 percent in Shanghai, while Angang Steel gained 5.6 percent in Hong Kong.