Seoul, February 5: The Ministry of Industry in South Korea said on Wednesday that the US recent recent retaliation measures will monitor the impact of China’s export restrictions on strategic minerals and respond. The following day, the Chinese government announced that the Chinese government plans to impose at least 10 % of tariffs, and the officials of the Chinese government held a meeting with relevant ministries and local companies to check domestic metal supply. 。 Import the United States and counterattack US tariffs.
Beijing has also announced exporting items related to five important global metals, widely used in major industries, including semiconductors and display sector, and YONHAP News Agency has reported. The five metals are tungsten, indium, bismas, terrium, and molybdenum. The Ministry said that Seoul has a tungsten supplies that lasts about six months, and has enough Molybdenum to last for about three months.
According to the ministry, China plays an important role in importing these materials in Korea, accounting for 85 % of the imports of tungsten and more than 90 % of Molybdenn the import. The ministry stated that the government and the private sector would cooperate “closely” to respond to the possibility of the economy and supply metal confusion from the movement of China.
On the other hand, Korean stocks rose more than 1 % on Wednesday and tracked overnight profits in Wall Street. South Korea’s victory was rapidly dealing with US dollars. The benchmark Korean composite stock index (KOSPI) closed 27.58 points (1.11 %) at 2,509.27. The trade volume was high at 429 million shares worth 9.7 trillion ($ 6.7 billion), and the winners exceeded 589 to 300 to 300.
Institutions and foreign investors have purchased a total of 99 billion won local shares, but retail investors sold 1.97 billion won. O night, Wall Street shares were supported by the relief of trade, following the decision to pause Canada and Mexican tariffs for one month.
