In premarket trading, MP Materials stock rose 6.1%, Trilogy Metals jumped 15.6%, Critical Metals shares gained 35%, and USA Rare Earth stock increased 9.4%.
Rare earth mineral stocks were trending on Stocktwits after rising in premarket trading on Tuesday, extending gains from Monday due to ongoing trade tensions between the U.S. and China.
According to media reports, U.S. President Donald Trump announced plans to impose 100% tariffs on China in retaliation for the country’s restrictions on rare earth exports. CNBC noted on Friday that Trump said that the new tariffs on China would be “over and above any Tariff that they are currently paying,” starting on Nov. 1.
President Trump eventually softened his stance on Sunday and said, “Don’t worry about China, it will all be fine!” in a post on Truth Social. “Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!” the post read.
In premarket trading, MP Materials (MP) stock rose 6.1%, Trilogy Metals (TMQ) jumped 15.6%, Critical Metals shares (CRML) gained 35%, and USA Rare Earth (USAR) stock increased 9.4%.
Energy Fuels (UUUU) were up 11.7% and U.S.-listed shares of Nova Minerals (NVA) gained 51.7% before the bell.
Retail sentiment on MP Materials and Critical Metals was in the ‘extremely bullish’ territory, while Trilogy Metals was in the ‘bullish’ territory.
A bullish user on Stocktwits noted “CRML will continue to rise” as long as the trade tensions remain.
On Monday, Critical Metals closed up 55%, Trilogy Metals jumped 10%, MP Materials gained 21% and Energy Fuels stock rose nearly 17%.
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