SHANGHAI, Jan. 28 (SMM) – Rare earth exports from China’s Baotou City – its key rare earth production center – grew to 6,686.1 tonnes in 2014, from 2013’s 6,523.3 tonnes, but the export value was only $43.5 million, down sharply from $56.4 million in 2013, the rare earth giant Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-Tech Co. reported on its website.
Markets expect big changes in China’s rare earth export policies after it lost the appeal at the World Trade Organization in the case brought by the US, the EU and Japan to challenge China's restrictions on rare earth exports. As a result, foreign purchasers mainly bought rare earths as needed in H2 2014. The softening consumption dragged down export prices.
Notably, Chinese companies did not use up their export quotas in 2014, meaning some rare earth products overseas have started entering markets.
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