Volt Carbon Technologies Inc (TORVF)

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Well, REE- the vice is tighter than we expected!!!

China’s new limits on the export of rare earth elements turn out to be more extensive than early reports indicated.

Yesterday, we were under the impression that exports during the first half of 2011 would be cut 11% from 2010 levels. Today it turns out the official number from the Chinese Ministry of Commerce is 35%.

The new limits are sending shivers down the spines of executives from Apple, where rare earths are used in iPad screens, to Sony, who gobbles them up for TVs, Vaio laptops and PlayStations.

“At this point in time, there is no direct impact on our company,” reads a Sony statement this morning. “But further restrictions could lead to a shortage of supply or rise in costs for related parts and materials. We will watch the situation carefully.”