Price moves

The opening-reference price of europium oxide was set at 4,000 yuan ($644) a kilogram, praseodymium-neodymium oxide was 320 yuan and cerium oxide 19.5 yuan, according to the Baotou bourse.

Lockheed Martin Corp's F-35 fighter jet is among weapons that contain neodymium iron-boron magnets made using rare earth material from China, a US Defense Department study in 2011 showed.

China typically releases two export quota batches every year and, from time to time, makes purchases for government stockpiles when prices drop, Peng said.

A dispute-settlement panel at the Geneva-based WTO on Wednesday determined that China didn't adequately justify imposing export duties and quotas.

The Association of China Rare Earth Industry will study details of the WTO report and evaluate its impact, Chen Zhanheng, a deputy general secretary at the association, said in a text message.

China is trying to promote six companies including Baogang Group and Aluminum Corp of China to lead acquisitions in the rare earth sector, Peng said.

The State Council in January also said it approved in principle Ganzhou city in the eastern province of Jiangxi setting up the largest rare earth group in southern China, under the Ganzhou Rare Earth Group, according to a National Business Daily report.

WTO finds against China in rare earth dispute	China to strengthen rare earth industry management