SHANGHAI, Feb. 17 (SMM) – China’s rare earth exports rose significantly in January, China Securities reported.
Customs data showed China exported 4,013 tonnes of rare earth in January, down 17.05% from December, but up 175.4% from a year ago.
Du Shuaibing, a rare earth analyst at BAIINFO, attributes the spike mainly to favorable policy and partly to stocking by overseas buyers ahead of 2016 Chinese New Year holiday.
China has relaxed control over rare earth export quotas since January 2015, allowing the number of exporters to surge from over 40 in early 2015 to more than 100 at present, Du explained.
Besides, China cancelled rare earth export duty, effective May 1, 2015.
China exported 4,838 tonnes of rare earth in December 2015, up 66.7% year-on-year and 49.3% month-on-month. Exports totaled 34,833 tonnes in 2015, up 25.4% from 2014.
The average export price, however, fell 6.4% from 2014 to $10.7/kg.
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