Toronto, Jan 24, 2026, 12:35 PM EST — Markets have closed.
- Shares of Ucore Rare Metals dropped roughly 2.5% in Toronto on Friday
- Investors are digesting new government discussions on critical minerals supply chains
- Next week, attention shifts to central bank decisions and potential trade-policy updates
Shares of Ucore Rare Metals (UCU.V) slipped on Friday. As Monday’s reopening approaches, investors seem to be tuning out the recent price action and refocusing on political developments.
The timing is crucial as governments openly discuss securing “critical minerals”—a broad term for materials like rare earths used in chips, defense systems, and electric motors—and aim to prevent China from dominating trade terms.
Italy and Germany announced on Friday plans to join forces on a shared strategy to secure critical raw materials. Rome has urged its partners to push back against what it views as China’s rising control over global pricing. Italian Foreign Minister Antonio Tajani declared: “We can’t accept that China alone can decide the price of raw materials.” (Reuters)
Ucore’s shares ended the session at C$9.60, slipping from C$9.85 previously, per Investing.com data. On the U.S. over-the-counter market, the stock (UURAF) last changed hands at $7.01, down 0.28%. (Investing)
No fresh company filings or earnings reports came out late last week. Ucore positions itself as a rare earth processing player, betting that the real bottleneck lies in separation and refining capacity, not just mining.
On January 15, Ucore expressed support for the Trump administration’s action under Section 232, a U.S. trade law linked to national security, designed to reinforce supply chains for processed critical minerals. “Critical minerals security requires domestic processing capability that can be deployed quickly, scaled efficiently, and operated responsibly,” said chairman and CEO Pat Ryan. (Ucore Rare Metals)
The White House proclamation mentioned by Ucore sets a 180-day period to negotiate deals with trading partners before other steps kick in, like imposing minimum import prices—a “price floor”—on certain minerals. (The White House)
Heading into the weekend, traders eyed a metals rally pulling focus to mining and materials stocks. Silver shot past $100 an ounce on Friday. StoneX analyst Rhona O’Connell called it a “self-propelled frenzy,” cautioning that what now looks like “cracks” might soon become “chasms.” (Reuters)
That said, the setup is double-edged. A sudden shift in risk appetite, a drop in metal prices, or a pause in policy news could slam small, thinly traded stocks. Investors also want proof of progress on facilities, funding, and feedstock before committing.
Next week’s schedule gets busier. The Federal Reserve meets January 27-28, and the Bank of Canada announces its rate decision on January 28. Traders are focused on any change in their stance on growth, inflation, and risk assets. (Federal Reserve)
