Recently, the General Administration of Customs released import and export data for January–June 2026. According to the latest data, China's imports of thorium ore and concentrates in January–June 2026 stood at 37,025 mt, up 38% YoY. June imports reached 11,625 mt, surging 194% MoM and jumping 291% YoY. In January–June 2026, China's imports of unlisted rare earth oxides were approximately 32,784 mt, up 14% YoY; June imports of unlisted rare earth oxides came in at about 3,518 mt, edging up 12% MoM but falling significantly, down 48% YoY.
Breaking down the specifics, imports of thorium ore and concentrates showed a marked upward trend, primarily driven by a large volume of material from Madagascar entering the Chinese market in June.
In contrast, imports of unlisted rare earth oxides remained persistently low. Two factors explain this: first, the ongoing rainy season in Southeast Asia has disrupted mine operations; second, narrow margins for rare earth ion-adsorption ore have discouraged producer output and import appetite. Overall, imports of ion-adsorption ore are expected to stay subdued through August.
