Shares of companies associated with rare earth metals, soared in trading on October 10. Securities of mining company MP Materials rose by 15%, USA Rare Earth - by 19%, NioCorp Developments - by almost 14%, and quotations of uranium producer Energy Fuels added more than 10%.

Investors started buying up stocks related to rare earth metals amid Donald Trump's statements. He threatened China with higher duties, accusing Beijing of "holding the world hostage" over export controls on these materials. "I will be forced, as president of the United States, to respond with financial measures to their actions," Trump wrote Truth Social. - One of the measures we are now considering is a significant increase in duties on Chinese goods coming into the US. We are also seriously considering other possible retaliatory steps."

China this week tightened export controls on rare earth metals, on which it depends for high-tech products including weapons systems, robotics, electric vehicles and electronics. Beijing maintains a dominant position in the global rare earth supply chain, while the U.S. remains dependent on Chinese imports, CNBC noted.

This article was AI-translated and verified by a human editor

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