Newssummary: Rare Earth Demand to Grow on China Environmental Drive

SHANGHAI, May 25 (SMM) –Demand for light rare earth elements, such as lanthanum, praseodymium and neodymium, will grow as China steps up environmental protection efforts, northnews. cn reported.

     

According to the Air Pollution Prevention & Treatment Action Plan released by the State Council, China will accelerate upgrade of refined oil quality. This move will boost demand for lanthanum, which is mainly applied in petroleum separation, fume desulfurization and denitrification, etc.     

 

The Ministry of Finance, together with other departments under the State Council, recently issued Fiscal Support for Promotion of New Energy Cars 2016-2020, another positive news for rare earth, used in both pure electric vehicles and plug-in hybrid electric vehicles.