China Said to Add 10,000 Tons to Rare Earths Stockpiles
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China bought 10,000 metric tons of rare earths in the last week, said two people familiar with the matter, as the country stockpiles the metals used in batteries and magnets amid international pressure to ease export quotas.
The State Reserve Bureau paid above-market prices for the rare earths, according to the people, who asked not to be identified because they weren’t authorized to speak publicly about the purchases. China accounts for 90 percent of global rare earths production.