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Investing.com -- U.S.-listed rare earth stocks rose in premarket trading on Thursday after China announced new restrictions on exports of rare earth materials.
Critical Metals shares gained 6.1%, MP Materials climbed 5.1%, and Energy Fuels increased 4.7% following the announcement from China’s Ministry of Commerce.
The new regulations require overseas exporters to obtain an export license for products containing even trace amounts of certain rare earths sourced from China. The ministry announced these restrictions on Thursday.
The timing of China’s decision comes as Chinese President Xi Jinping and U.S. President Donald Trump prepare to meet at a summit in South Korea later this month to negotiate a trade deal.
Rare earth stocks in Asia markets also moved higher as investors anticipated tighter supply and higher prices for these critical materials.
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