There have been reports that China will halt exports of rare-earth metals to Japan given tensions between the two countries arising out of Japan detaining a Chinese boat captain.
On the above reports MCP and REE, two rare-earth metal stocks trade in US have moved up.
Today’s decision by Japan to release the boat captain will ease tensions and in all likelihood exports of rare-earth metals will continue. For a short term trade, we will scale in shorts on MCP and REE in the pre market and at the open based on technicals only if prices in the approximation of yesterday’s close to yesterday’s high range are available.
