SMM, November 21: Recently, the General Administration of Customs released import and export data for November 2024. According to customs data, China's imports of rare earth metal ores in November 2024 reached 5,105 mt, up 13% YoY and up 18% MoM. From January to November 2024, cumulative imports totaled 60,800 mt, down 13% YoY.
From January to November 2024, China's cumulative imports of unlisted rare earth oxides reached 39,715 mt, up 17% YoY. Among them, November imports were 2,000 mt, down 42% YoY and down 44% MoM.
It is understood that in November, shipments of unlisted rare earth oxides from Myanmar significantly declined due to geopolitical factors, with imports from Myanmar accounting for only 37% of the total. However, according to miners, imports of Myanmar ores may resume by month-end or early next month, with unlisted rare earth oxide imports expected to see a significant increase in January 2025.
In November 2024, China's imports of mixed rare earth carbonate reached 3,367 mt, up 52% YoY. From January to November 2024, cumulative imports totaled 14,733 mt, down 55% YoY.
In November, imports of mixed rare earth carbonate rose significantly, with Malaysia being the main source of growth. Malaysia continued to demonstrate strong competitiveness in electronic products and mineral resource exports. This trend indicates that Malaysia is gradually establishing an advantage in the high-tech industry, further enhancing international market demand for its products.
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