Rare earth oxide prices in China decreased in mid-March for the first time since the beginning of the year despite continued strong demand, as reported by the industry service Shanghai Metals Market (SMM). This is probably also due to pressure from the Chinese government.
The Australian government intends to provide financial support to the critical raw materials industry to consolidate its position in the fast-growing market.
The outbreak of the omicron variant of the coronavirus in Shenzhen in southern China could further complicate the supply of chips and other electronic components.
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