[Asia Economy Reporter Jang Hyowon] T-PLAS is showing strong performance. The company distributing rare metals, T-PLAS, is gaining attention following news that China plans to include rare earth refining technology in its list of export-prohibited and restricted technologies.
As of 9:27 AM on the 17th, T-PLAS is trading at 4,230 KRW, up 8.05% compared to the previous day.
According to industry sources, the Chinese Ministry of Commerce is conducting a public consultation on the amendment to the "China Export Prohibited and Restricted Technology List" order. According to the amendment, China plans to designate rare earth refining, processing, and utilization technologies as core strategic materials and include them in the export prohibition list.
Among the export-prohibited technologies, samarium-cobalt is an alloy of samarium, a rare earth element, and cobalt, one of the expensive strategic resources. China is known as the only country capable of extracting rare earth metals samarium and cobalt. Since samarium-cobalt magnets use rare earth materials as raw materials, they are the most expensive magnets currently available, with China producing more than 70% of the global supply.
T-PLAS distributes rare metal materials such as titanium, nickel, tungsten, and molybdenum. Rare metals are metals with limited production volume and restricted production locations, including coltan, an essential material for electronic products; lithium, a battery raw material; rare earths; and molybdenum. Rare earths conduct heat and electricity well, making them widely used in various fields such as electricity, electronics, catalysts, optics, and superconductors.
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