A U.S. congressional committee has accused China of manipulating global mineral markets, warning that Beijing is using its dominance to stabilize prices and strengthen its economy.

In a 50-page report released Wednesday, the House Select Committee said China's decades-long control over the processing of critical minerals has made it difficult for the U.S. and its allies to determine fair prices for essential metals like lithium and rare earth elements.

The report accused China of leveraging its influence to gain strategic economic advantage, shaping market conditions that favor its industrial and technological sectors.

To counter this, the committee recommended tighter government oversight of pricing institutions, creation of a U.S. strategic mineral reserve, and coordinated efforts with allies to diversify supply chains.

It also urged Washington to adopt stronger transparency and anti-monopoly measures to prevent China from setting benchmarks for mineral prices globally.

The report warned that confronting China's influence in global mineral markets would require simultaneous policy actions and robust multilateral cooperation among the U.S. and its partners.

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