Zak Smith 12/1/11 ASIAN REALM Quote and Source: “ The sharp decline in demand and prices outside China could create yet another shortage next year,”—Constantine Karayannopoulos, chief executive of Neo Material Technologies. “Prices of Rare Earth Metals Declining Sharply,” NY Times online, November 16, 2011. Synopsis: China is a large country that has many rare earth metals. Two of these are cerium and lanthanum which are used for several commercial purposes such as polishing TVs. In the past, the prices of these rare earth metals were on a steep incline but over the past couple months, they have been on a decline. Since August, the prices have dropped to two-thirds of what they used to be because of decreased demand outside of China. In an attempt to increase the demand again, Chinese mining companies are going to stop work next spring in an attempt to dry out the market. With less rare earth metals on the market, the demand should increase and as a result,
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This note was uploaded on 02/13/2012 for the course GEOG 259 taught by Professor Staff during the Fall '08 term at UNC.