Shin-Etsu Chemical rebounds after six sessions on reports of new rare earth production facility
Shin-Etsu Chemical Co., Ltd. <4063> shares rebounded Thursday for the first time in six sessions following a report in the Nikkei morning edition that the firm plans to establish new rare earth production facilities in Fukui Prefecture. According to the report, the firm intends to invest at least 35.00 billion yen to construct new smelting facilities, with 17.50 billion yen of the total funded through government subsidies. As China tightens its export controls on rare earth elements, the growing urgency to establish supply chains that reduce reliance on China propelled the report into the market spotlight.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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