China’s rare earth imports soared in November, mines in Myanmar rushed to export before border closure  

According to customs data, China's rare earth metal ore imports reached 4,524 mt in November 2023, an increase of 19% YoY and a month-on-month increase of 37%. The cumulative import volume from January to November was 60,799 mt, a decrease of 16% YoY.
From January to November 2023, China’s cumulative import volume of unlisted rare earth oxides was 39,716 mt, a year-on-year increase of 272%. Among them, the import volume in November was 3,449 mt, a year-on-year increase of 165% and a month-on-month increase of 20%.
China's import volume of mixed rare earth carbonates was 2,222 mt in November, a year-on-year increase of 5,190% and a month-on-month increase of 245%. The cumulative import volume reached 14,732 mt from January to November 2023, a year-on-year increase of 871%.
According to a notice from the relevant administrative departments in Myanmar, the entry of auxiliary materials into Myanmar would be stopped again starting from December 5, 2023 and the transportation of rare earth mineral products would be stopped in late December. As a result of this news, mines shipped rare earth products into China in advance. Under this circumstance, the import volume of rare earth products from Myanmar also increased significantly on a MoM basis.