China expected to increase output of rare earth metals

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The world’s largest producer of rare earth metals is expected to increase production quotas to take advantage of likely higher prices.

China is expected to double exports this year as prices for rare earth metals are low, but prices are expected to increase in line with more demand.

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Former Ministry of Industry and Information Technology official Wang Caifeng, who oversaw the rare earth metal industry said: “Export quotas may be yet this year as overseas demand recovers.”

Last year, Chinese exports only met 49 per cent of the Government quota set for the industry.