There’s a popular get-rich-quick story in the town of Ganzhou, the rare earths capital of southern China: buy rare earths, and hold.
Though the strategy has lined pockets in Ganzhou for years, it is now being tested by a precipitous drop in prices for rare earths, 17 elements used in electronics and lighting.
Prices have slid more than 30 per cent from record highs in July and the fall has accelerated in the past week, with some elements down 10 per cent since Chinese holidays ended on October 10.
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