[SMM Analysis] China's rare earth exports fell 21.35% in May compared with the same period last year. Sino-US trade environment remains to be seen.

SMM6: China's rare earth exports fell in May 2020 to 28.653 million tons in May 2020, down 21.35 percent from a year earlier, according to customs data from the General Administration of Customs.

The price of medium and heavy rare earths has increased, curbing export enthusiasm. The price of medium and heavy rare earths in China increased significantly in the middle of May, and the average export price in May was about 21% higher than that in April. The prices of terbium and dysprosium metal rose to 530, 535 yuan / ton and 240, 245 yuan / ton, respectively, up about 6% and 4% respectively from April. Rising prices have reduced corporate profit margins and curbed export enthusiasm, so China's rare earth exports fell significantly in May.

The trade war between China and the United States is on the rise, which affects the trade of rare earths to a certain extent. The tension between China and the United States intensified during the epidemic, and the market is worried that the trade dispute between China and the United States may escalate. out of concern about future risks, traders are now taking a wait-and-see attitude and are more cautious in taking orders, which has a certain impact on the export of rare earths.

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