Grace Announces Rare Earth Surcharge for FCC Catalysts and Additives

[phantom power]

COLUMBIA, Md.--(BUSINESS WIRE)--Grace Davison, an operating segment of W. R. Grace & Co. (NYSE:GRA - News), today announced the implementation of a rare earth surcharge for its fluid catalytic cracking (FCC) catalysts and additives for the petroleum refining industry. Effective October 1, 2010, Grace will implement a global rare earth surcharge due to rapidly escalating prices as a result of recently imposed export tariffs and quota restrictions by major producers in the rare earth market.

In addition, Grace will increase FCC catalyst prices by 5% to 7%, effective January 1, 2011, or as contracts allow, as a result of inflation in other key raw materials and to support ongoing research and technical service efforts. Grace is providing price guidance in advance to support customer budget preparations for 2011.

http://finance.yahoo.com/news/Grace-Announces-Rare-Earth-bw-2637035890.html?x=0&.v=1

[JDPriestly]

1. Export tariffs and quota restrictions imposed by China?

And all these multi-national companies locating in China think they are promoting free trade? Huh?

Since when is China a free-trade country?