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Worse rare earth shortages 'yet to come'
Worse rare earth shortages 'yet to come'
Further cuts in Chinese exports, depleted stocks to hit Japan hard By MINORU MATSUTANI Staff writer Trade statistics have revealed the country's import of rare earth minerals from China surged by more than 50 percent in the January-November period last year from the same period in 2009 ? even though it plunged by two-thirds in the October-November period due to export restrictions by Beijing. Heavy metal: A polishing machine for glass-made circuit boards is seen at a plant in Yokkaichi, Mie Prefecture, in December. The process consumes cerium, a rare earth metal. KYODO PHOTO China suspended exports in September, only to resume them a few weeks later. Although there has been no news that production of smart phones and hybrid cars has been stalled because of a shortage of rare earth metals, Japanese trading houses and firms are trying to reduce their reliance on China. And some metal traders say the worst is yet to come. Shortages will begin hitting early this year because Japanese firms and trading houses will run out of inventories, which are typically worth about three months, while China will cut exports, said Katsuyuki Matsuo, president of trading company Kanmaterial Corp., adding that Beijing has also raised tariffs on rare earths, another blow. Read the full article Visit: http://www.australianrareearths.com
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