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China Summons Manufacturers After Prices of Rare Earths Surge

  • Automakers, industry players attend ministry meeting
  • Surging prices of materials are increasing manufacturing costs
BYD Co. electric vehicles charge at a charging station in Shenzhen, China. 

BYD Co. electric vehicles charge at a charging station in Shenzhen, China. 

Photographer: Qilai Shen/Bloomberg

China has summoned automakers along with producers of electronics and magnet materials in a bid to bring surging rare earths prices under control, according to people with knowledge of the matter.

Delegates from the China Electronics Material Industry Association and maunfacturers including BYD Co., SAIC Motor Corp., Jing-Jin Electric Technologies Co. attended a meeting arranged by the Ministry of Industry and Information Technology on Wednesday, the association’s magnet branch said in a statement, without elaborating.