Cuts in China’s rare earth output not enough to revive hard-hit market
Last month, the country’s top producer #China Northern Rare Earth High Tech Corp and five other main suppliers said that due to weak prices, they would produce around 10 percent less than their 2015 government-set output targets.
China is the world’s dominant producer of #RareEarths, accounting for 90 percent of global supplies.
“The cuts caused a short-term bump (in prices), but the real problem is that it’s only a small drop in the ocean,” said David Merriman, senior analyst at consultancy Roskill Information Services in London.
Read more at: http://www.reuters.com/article/2015/11/06/rareearths-outlook-idUSL8N12U4A720151106#cGe1vyH72eHHGCRi.99