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China's rare earth exports jumped 38.7% YoY to 4,012.4 mt in June

iconJul 21, 2021 10:39
Source:SMM
According to customs data, China's rare earth exports stood at 4,012.4 mt in June, up 38.7% year on year, but down 3.8% month on month.

SHANGHAI, Jul 21 (SMM) - According to customs data, China's rare earth exports stood at 4,012.4 mt in June, up 38.7% year on year, but down 3.8% month on month.

As the main products of China's rare earth exports, the prices of lanthanum and cerium are taken as references. Prices of lanthanum oxide in June this year dropped significantly compared with the same period last year, reflecting oversupply of domestic lanthanum products. This drove domestic companies to sell lanthanum and cerium overseas. Export volume in June 2020 was affected by the COVID-19 pandemic. As a result, exports in June this year saw significant year-on-year growth.

In addition, the prices of mainstream rare earth products (Pr-Nd, terbium, dysprosium) in June were at relatively low levels when compared to H1, stimulating overseas companies to stock up. However, rare earth exports in June were slightly lower than in May as the approach of summer break eased overseas buyers’ pressure to stock up.

It is expected that China's rare earth exports will continue to weaken month-on-month in July.

In terms of foreign trade, China’s customs data showed that, the total value of China’s  goods imports and exports was 18.07 trillion yuan in H1, an increase of 27.1% over the same period last year. Among them, exports were 9.85 trillion yuan, an increase of 28.1%, and imports were 8.22 trillion yuan, an increase of 25.9%.

Chinese customs added that the strengthened Chinese economy and increased vitality of market entities have provided strong support for the sustained and stable growth of foreign trade. The customs also attributed the increase in foreign trade to the continued recovery of the global economy, lower export volume last year and relatively low prices. 

Rare earth
Exports

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