Rare Earth Stocks Index is leading the way, up 4.6% Molycorp MCP.nyse, owner of the world’s largest non-Chinese rare earth metals deposits was screaming higher, up 9% after Dahlman & Rose increased its price target from $85 to $125. Avalon Rare Metals AVL.to was also getting positive action, up 6% after Dahlman & Rose initiated a buy rating on the stock.
Times reports demand for rare earths continues to outpace supply. China, which controls 95% of the rare earths export market, has been slashing export quotas to conserve supply for domestic use.
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