Hello C2, was not but now am concerned about the China flooding
DEFCON 5 possibly and am watching.
Not about the dam, but the dam might play a part, or CoVid, or whatever.
If folks were concerned about the supply chain for socks, they might get worked up about same for industrial vitamins and technology cardiac event medication.
Should a shortage develop due to renewed CoVid protocol, and concurrent doubtless coincidental re-up of environmental protection issues, or convenient flood measure, and whatever, the world could run dry of rare earth faster than of masks and gloves.
Big boyz play different. Dress rehearsal. Too much too coincidental. All plausible. CoVid vaccine nationalism? Tame stuff.
Should an all-in situation make appearance, gold may go Unobtainium, reaching closure on confluence of all vectors towards the mother of all printings to resolutely counter Mother Nature actions accelerated by decisions misunderstood. Nasdaq may have a bullseye painted on it, and if laser illuminated, bull dead.
Watching.
sg.news.yahoo.com
China’s rare earth export plunge caused by coronavirus, not Beijing agenda, industry group says
marketscreener.com
China rare earths firm Shenghe hit by 'once-in-a-century' flooding
BEIJING, Aug 19 (Reuters) - Chinese rare earths producer Shenghe Resources Holding Co is set to lose tens of millions of dollars after reporting that "once-in-a-century" flooding in southwest Sichuan province had shut down plants and damaged inventory.
Floods on China's Yangtze river, which passes through Sichuan, forced authorities to evacuate more than 100,000 people on Tuesday.
Shenghe subsidiary Leshan Shenghe and Sichuan Runhe Catalytic New Material Co, in which it holds a 38.1% stake, were affected by the flooding, Shenghe said in a Wednesday filing to the Shanghai Stock Exchange.
"The water level ... is quite deep. At the moment the factories have completely stopped production and all personnel have been evacuated safely," the statement said.
Shenghe added in a follow-up statement there were no casualties and nor did any dangerous material leak. The rare earths production process can have a radioactive byproduct.
Shares of Shenghe fell 10 percent on Wednesday.
China is the world's dominant producer of rare earths, a group of 17 minerals used in consumer electronics and military equipment.
Leshan Shenghe, which processes rare earths into material usable by manufacturers, is expected to lose 240 million-330 million yuan ($35 million-$48 million) due to the flooding, including 220 million-280 million yuan in inventory, the filing said.
That exceeds the 83.8 million yuan Shenghe said in a separate filing that the unit's inventory was insured up to. Leshan Shenghe produced more than 28,000 tonnes of rare earth salts in 2019.
Shenghe, which also has a minority stake in U.S. rare earths miner MP Materials, said the plants would work to resume production under local government guidance, without giving a time frame.
Shenghe distributes rare earth concentrate from MP Materials' California mine to Chinese refiners. It was not immediately clear if the flooding had affected that distribution operation. MP Materials declined to give official comment. ($1 = 6.9075 Chinese yuan renminbi) (Reporting by Tom Daly, Min Zhang and Ernest Scheyder; Editing by Jan Harvey and Richard Pullin)
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