China, which is responsible for 97 percent of rare earth materials, has announced it will cut its exports to try and bring up dropping prices of the metals. The Commerce Ministry said exporters will be allowed to sell 10,546 tons of rare earth metals during the first half of 2012, which marks a 27 percent decrease from the first half of 2011. The decision, like similar ones before it, will likely upset the US, the European Union, Japan and other governments that deal with China.
