Shares of U.S.-listed critical mineral producers surged in premarket trading on Tuesday after China unveiled new retaliatory actions against the U.S. shipping sector, underscoring escalating trade tensions between the two largest economies in the world.
Rare earth stocks led the rally: Critical Metals (NASDAQ:CRML) jumped 37% ahead of the opening bell, while USA Rare Earth (NASDAQ:USAR) climbed 12%. MP Materials (NYSE:MP) rose 8.8% and Energy Fuels Inc. (AMEX:UUUU) advanced 13%.
The upward momentum extended to other key players in the sector. United States Antimony Corporation (AMEX:UAMY) gained 15%, Almonty Industries (NASDAQ:ALM) rose 7.4%, Nouveau Monde Graphite (NYSE:NMG) surged 22%, and American Battery Technology Company (NASDAQ:ABAT) increased 14%.
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