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USA Rare Earth (USAR) shares pared gains on Friday after rising as much as 4% intraday, following a Reuters report that Chinese suppliers were refusing to ship rare earths to the United States, intensifying demand for domestic supply chains.
USA Rare Earth shares surged by 4% to $18.35 at one point before retreating to $17.70, erasing the day's gains. Reuters reported that some Chinese suppliers have refused to ship rare earth materials to US customers since early August, despite holding export licenses, drawing market attention to non-Chinese rare earth supply chains. USA Rare Earth completed its merger with Serra Verde Group on September 3, acquiring scaled heavy rare earth production capabilities. Chinese President Xi Jinping is scheduled to visit Washington on September 24, and rare earth supply is expected to be on the agenda.
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