WTO rules against China in rare earths dispute
BEIJING - The World Trade Organisation (WTO) has concluded that restrictions by China on the exports of rare earths are not in line with WTO rules, although it has not yet issued its findings. The case concerns 17 rare earth metals, such as tungsten and molybdenum, widely used in advanced technologies for the defence, electronics and renewable-energy industries.
China accounts tor 97% of world output. In 2010 China’s Government cut domestic output and reduced export quotas by 40%, driving up prices and prompting the USt\, the EU and Japan to file a formal complaint to the WTO, challenging the restrictions. The final report will be released by the end of the year.