Rare-earths exchange starts trading
China has started its first rareearths exchange as the world’s biggest producer of the elements seeks to increase the role of the free market amid criticism overseas for limiting exports.
Baotou Rare Earth Products Exchange in the Inner Mongolia autonomous region began trading europium oxide, praseodymium-neodymium oxide and cerium oxide, it said in a statement on Friday.
China is bringing exchange trading to rare earths as it consolidates miners and refiners of the group of 17 chemically similar elements used in products from smartphones to helicopter blades and hybrid-car batteries.
The trial comes after the World Trade Organization ruled against the country in the past week, agreeing with the US that limits on its exports violate trade rules. (Photo 1)