China's Rare Earth Oxide Imports Down 11% MoM in Aug but Up 21% YoY, Cumulative 2026 Volumes Rise 16%

In August 2026, China's imports of unspecified rare earth oxides stood at 4,070 tonnes, down 11% MoM from 4,591 tonnes in July, yet up 21% YoY from 3,374 tonnes a year earlier. Cumulative imports for January–August 2026 reached 41,445 tonnes, up 16% YoY. Since the start of 2026, monthly import volumes have fluctuated: the first quarter remained at a relatively high level, with March reaching the year's peak of 8,747 tonnes and January and February at 7,750 and 5,111 tonnes respectively; the second quarter fell back into a range of 3,100–4,600 tonnes; after rebounding to 4,591 tonnes in July, August edged down to 4,070 tonnes, still well above the 3,374 tonnes recorded in the same period of last year.

August imports declined MoM but maintained YoY growth, with cumulative January–August volumes up 16% YoY, reflecting resilient demand from domestic rare earth smelting and separation plants for upstream raw materials. The modest MoM decline was mainly attributable to the still-slow pace of domestic demand recovery, compounded by the fact that the rainy season in Southeast Asia had not yet ended.

Looking ahead, as demand for rare earth permanent magnets continues to grow across new energy vehicles, wind power and consumer electronics, demand from China's rare earth industry chain for upstream rare earth oxides and rare earth mineral raw materials is expected to remain supported. Meanwhile, as the Southeast Asian rainy season gradually draws to a close, imports of unspecified rare earth oxides are expected to keep fluctuating at relatively high levels from September onwards. Overall, the overseas rare earth supply landscape, adjustments to China's rare earth mining quotas and changes in the international trade environment remain key variables affecting the pace of raw material imports.