Antimony prices going higher?SHANGHAI — China is considering setting up strategic reserves of 10 minor metals including rare earths, state media said Wednesday, as Beijing moves to tighten control of its supply of the vital minerals.
The report comes amid concerns in Japan and the United States that China, which controls more than 95 percent of the global market in rare earths -- used in everything from iPods to missiles -- is clamping down on exports.
The strategic reserve plan would include rare earths, tungsten, antimony, molybdenum, tin, indium, germanium, gallium, tantalum and zirconium, the Shanghai Securities News said, citing unnamed sources.
Some metals like rare earths and tungsten have long been undervalued on the global market due to the low cost of complying with environmental standards in China, and a reserve would help Beijing manage supply and demand, it said.
China has cut rare-earth exports by five to 10 percent a year since 2006 as demand and prices soar, in a measure it says is aimed at minimising the harmful environmental effects of mining for the minerals.
Noticed antimony on the list. Little River just might be geting more attention than what was ever imagined!
Cheers,
JR.