• Chinese Rare Earth Company Strokes Mustache, Cuts Off World's Access to Rare Earths to Inflate Price
    36 replies, posted
[QUOTE]China may only have 30 percent of the rare earths in the world, but they essentially have a monopoly--which the rest of the world has been tirelessly trying to work around. (To wit: Japan looks to Vietnam, the U.S. looks to California and Missouri, everyone looks under the sea.) In a slightly devilish business move, China sought to tighten their grip and raise prices by eliminating all sales to its major buyers, the U.S., Japan, and Europe, for one month. During the sales freeze, China is also consolidating its various rare earths businesses and buying more rare earths. At the moment, about 60 percent of the country's rare earths supply is controlled by a single company, called Inner Mongolia Baotou Steel Rare-Earth. That company is artificially created and listed as a state-owned company, as China has already forced some 35 local companies to either absorb into Inner Mongolia Baotou Steel Rare-Earth, or fade away. Analysts, according to the AP, think the plan will probably work; rare earths prices have been sliding downward lately, a trend China would certainly like to reverse, and it'll also give the country an opportunity to work on its locally-produced rare earths magnet industry--a much more profitable enterprise than simply selling raw materials. Of course, it's not going to do much to discourage, you know, every other country on the planet from trying to find an alternative to buying rare earths from China.[/QUOTE] Source: [url]http://www.popsci.com/technology/article/2011-10/china-strokes-mustache-cuts-worlds-access-rare-earth-metals-inflate-prices[/url]
what is a rare earth
There is no reason they did this other than to be dicks.
We all know the Chinese are bastards, this isn't surprising to me.
[QUOTE=MightyMax;32916941]There is no reason they did this other than to be dicks.[/QUOTE] To obtain money, they just didn't care they had to be dicks to do so. A rich man would gladly sell you the rope to hang him with, for the right price.
I was wondering what a rare earth was until it mentioned a magnet.
We need to ramp up mining in our respective countries to keep prices down. Rare earths are used in a lot of high technology, like high efficiency electric motors and hard drives.
[QUOTE=Cmx;32916954]I was wondering what a rare earth was until it mentioned a magnet.[/QUOTE] so it's miracles
[QUOTE=Funcoot;32916951]To obtain money, they just didn't care they had to be dicks to do so. A rich man would gladly sell you the rope to hang him with, for the right price.[/QUOTE] A poor man would as well.
magnets how do they sell fucking miracles
[QUOTE=Fire Kracker;32916937]what is a rare earth[/QUOTE] [url]http://en.wikipedia.org/wiki/Rare_earth_element[/url]
[QUOTE=OvB;32916974][url]http://en.wikipedia.org/wiki/Rare_earth_element[/url][/QUOTE] "Erbium", for the village of Ytterby, Sweden. now you're just reaching, guys
Isn't this the second or third time they've done this? Because of the last few times they did this companies/governments are trying to get rare earth mines set up outside of china.
DeBeers 2.0 Good job, creating scarcity where it is not needed.
First this, then the moon lets stop thoee reds
Don't worry guys, at least they're still being generous with their lead.
Just another rerun of OPEC.
Good thing the US stayed allied with Australia and our massive rare earth deposits (among other things)
[QUOTE=Metalcastr;32916955]We need to ramp up mining in our respective countries to keep prices down. Rare earths are used is a lot of high technology, like high efficiency electric motors and hard drives.[/QUOTE] They already are. There's a rare-earth mine in California that shut down in the 70s because filtering out the environmental impact was getting too expensive. Now that the prices are rising, it's profitable to run again; the paperwork and other preparations are already underway to re-open it. Plus, there's that massive deposit they just found in Afghanistan. It'll be several years before the infrastructure is in place, but that will definitely increase supply.
I'm a bastard
who CARES
[QUOTE=Kung Fu Jew;32918613]who CARES[/QUOTE] PC hardware prices could go up. Do you care now?
[QUOTE=binarybitz;32918759]PC hardware prices could go up. Do you care now?[/QUOTE] no because i get to sell my stuff for more monies as its all fairly new stuff that i purchased very recently. >:)
This isn't any different then what Russia is doing with diamonds.
I have craftÉd an image to show my feelings towards this [img]http://i.imgur.com/Ht9zH.png[/img]
China will grow larger. [editline]23rd October 2011[/editline] [img]http://wiki.falloutstudios.org/images/1/1c/Generals_China_Dozer_cameo.png[/img]
[QUOTE=MightyMax;32916941]There is no reason they did this other than to be dicks.[/QUOTE] In the business world, everyone is a dick. Don't be like we haven't seen worse shit before. Edit: But I will use this information to reinforce the fact that the chinese are evil communists and must be destroyed.
[QUOTE=Fire Kracker;32916937]what is a rare earth[/QUOTE] rare earth metals.
[QUOTE=Fire Kracker;32916937]what is a rare earth[/QUOTE] Sounds like something from an RPG. [editline]23rd October 2011[/editline] I wonder if you can trade them for some fish and a sword.
Isn't that kind of illegal according to international law? And even if it isn't, you can't expect to be a dick towards other nations without them pulling a dick move on you. [editline]23rd October 2011[/editline] Found a graph demonstrating to you how much control China has over that market- [img]http://upload.wikimedia.org/wikipedia/commons/9/93/Rareearth_production.svg[/img]
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