Chinese Rare Earth Stocks Surge After US Dependency Warning

China's stock market recorded a rapid rise in the valuations of companies engaged in the extraction and processing of rare earth metals. The rally followed official statements in the United States recognizing the American economy's critical dependence on overseas — primarily Chinese — supplies of strategically important minerals. Rare Earth Sector Leads Market Gains Trading on the country's leading exchanges, the Shanghai and Shenzhen stock markets, reflected powerful momentum in the raw materials segment. Shares of major industry players climbed at an accelerated pace as investors reacted to the geopolitical implications of the news. Securities of aluminum and mining heavyweight CHINALCO jumped nearly ten percent. Baotou Steel posted even stronger growth, with its stock rising by more than ten percent during the session.