U.S. stocks linked to rare earth metals and other critical minerals gained this week, getting a boost from signs that the Trump administration will favor a sector that’s become a flashpoint in the trade standoff between the U.S. and China.
Rare-earth magnet player USA Rare Earth Inc. has jumped 68 per cent this week as of 1:49 p.m. on Thursday. TMC The Metals Company Inc., a Vancouver-based company that’s seeking permission from the U.S. to gather critical metals at the bottom of the ocean, is up 55 per cent in the short trading week.
Shares of MP Materials Corp., a miner and refiner of rare earth elements, have gained 17 per cent and are set for their best performance since September — even after giving up some of the week’s gains when it halted shipments of rare earth concentrate to China as a result of Chinese tariffs on imports.
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