U.S.-listed rare earth producers jumped in premarket trading on Thursday after China unveiled fresh restrictions on the export of rare earth materials.
Shares of Critical Metals (NASDAQ:CRML) rose 6.1%, MP Materials (NYSE:MP) gained 5.1%, and Energy Fuels Inc. (AMEX:UUUU) climbed 4.7% following the announcement from China’s Ministry of Commerce.
Under the new rules, foreign exporters will need to secure licenses to ship products containing even small quantities of certain rare earth elements sourced from China. The ministry introduced these measures on Thursday.
The move comes just weeks before a planned meeting between Chinese President Xi Jinping and U.S. President Donald Trump in South Korea, where the two leaders are expected to discuss a new trade agreement.
Rare earth companies in Asian markets also advanced, with investors betting that tighter export rules could reduce supply and push prices higher.
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