Officials: Let up on rare earths

In 2011, fast-rising prices forced firms out of sector, triggering 5-year slump

China's regulators are trying to cool down the price rally of rare earth, which has seen a sustained price increase since the beginning of this year, after five years of downturn.

The National Rare Earth Office issued a statement on Aug 8 to the six largest rare earth groups in China, including Aluminum Corporation of China Ltd and China North Rare Earth (Group) Hi-tech Co Ltd, asking them to help stabilize the rare earth market, according to industry insiders.