Talks between U.S. and Chinese officials on Tuesday were stretching into the evening of their second day, offering hope they could lead to some reduction in tensions over trade. But analysts are skeptical they will do much to address the export controls that have imperiled the fragile accord reached at last month’s Geneva meeting.

US stocks were little changed on Tuesday as renewed US-China trade talks entered their second day after an upbeat initial meeting. The Dow Jones Industrial Average was little chan

China has a virtual monopoly on those 17 metallic elements, which are critical components to everyday products from cars to jet engines to electronics like smartphones and flat-screen TVs. They’re even crucial for the contrast dye used in MRI machines and some cancer drugs.

Iron ore declined for a second day, as traders watched for any progress from US-China trade talks and potential stimulus from Beijing that could reignite buying interest in the steelmaking material.

Trade talks between the US and China resumed on Tuesday after six hours of discussions between top officials in London on Monday. Tuesday's talks are expected to continue to focus on easing tensions over rare earths and tech.