The rare earths must flow, but only with Beijing’s permission

In the 1984 science fiction film Dune, Baron Vladimir Harkonnen said the famous quote that can be aptly used to describe rare earth metals: “He who controls the spices, controls the universe.”

Spices were central to the world of Dune, allowing trade to flourish and the planets to flourish. In the same way, rare earth metals seem to be the spice of today.

These metals are used in almost every electronic device, from smartphones and cars to ballistic missiles.

In a sweeping move on Thursday, China tightened export rules on these vital materials, asserting its dominance of the global technology supply chain.

The new measures mean companies need to apply for a license from Beijing to export any products containing Chinese-sourced rare earth metals, while companies linked to foreign militaries or placed on export control or surveillance lists will be denied permits.

China It represents about 70% of the global supply Important minerals were frequently used as a bargaining chip in trade discussions.

With a potential meeting between Trump and Xi in South Korea soon, Beijing may signal its influence ahead of the high-stakes talks by tightening controls on rare earth exports, sending a message to the world that in the race for technological supremacy, it ranks high.

— CNBC’s Annick Pauw contributed to this report.

China tightens exports of rare earth elements… China has Tightening export controls on rare earths and related technologies while preventing its citizens from engaging in unauthorized mining abroad. The latest restrictions came just weeks before a potential meeting between US President Donald Trump and his Chinese counterpart Xi Jinping.

…sending rare earth stocks soaring. US rare earth and important mineral miners It rose Thursday After China tightened restrictions on exports, sparking market speculation that the Trump administration will move more aggressively to invest in building a domestic supply chain.

Ferrari hits the brakes. shares Ferrari Posted by them Worst trading day ever on Thursday after the luxury automaker’s full-year and 2030 guidance fell short of expectations, and it scaled back its electrification ambitions.

Samsung and SK Hynix achieved record numbers. Chip makers in South Korea Shares of SK Hynix and Samsung Electronics rose to record highs After a holiday that lasted about a week, supported by a series of artificial intelligence deals. In the United States, the S&P 500 and Nasdaq Take a break from their highest levels ever on Thursday in the United States, falling by 0.28% and 0.08%, respectively.

(PRO) Hedging against gold decline. Gold’s status as a diversified portfolio came into more focus this week as the precious metal broke through the historic $4,000 level. But can investors see the pullback, and how should they? They navigate this If that happens?

China’s Golden Week travel boom masks a painful price war

The latest sign of hyper-competition, or ‘circumvention’, has emerged in China’s tourism industry, raising concerns about… Deflationary pressures increase In the broader economy.

During the public holiday from October 1 to 8 – called “Golden Week” – domestic tourist trips totaled 888 million and generated 809.01 billion yuan ($113.63 billion) In revenues, according to official data issued Thursday. That’s 1.8% and 7.6% higher than last year, respectively, according to CNBC’s calculations of the numbers.

In fact, average spending per domestic tourist trip during Golden Week was also about 3% lower than in 2019 before the pandemic, Goldman Sachs noted Thursday.

“Golden Week was poor,” said Mix Shi, founder of PoshPacker Hostels Chengdu Group.

– Evelyn Cheng