The central government may launch a national strategic reserves scheme for rare earth metals sometime this year, with more policies for the sector under consideration, the Shanghai Securities News reported Tuesday, citing an unnamed person close to the Chinese Society of Rare Earths. The policies will be designed to stabilize rare earth prices and might include an unprecedented crackdown on illegal exploration, the report said. They could also include industrial consolidation, management geared to different rare earth types, and downstream applications. Meanwhile, the World Trade Organization may rule by the end of the year on a complaint lodged last year by the United States and the European Union against China’s rare earth export quota system, the report said.
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