Rare earth raw material imports increased MoM in March

Recently, the General Administration of Customs has released import and export data for March. According to customs data, China's imports of rare earth metal ores stood at 5,905.7 mt in March, up 55% YoY and 68% MoM. The imports in Q1 totalled 13,511 mt, up 19% YoY.

In Q1, the imports of unlisted rare earth oxides totalled 12,135 mt, up 21% YoY. The imports in March were 5,169.3 mt, up 34% YoY and 65% MoM. In addition, China imported 543.8 mt of mixed rare earth carbonate in March, up 2,490% YoY but down 31% MoM, with the total of 2,202.3 mt in Q1, up 59% YoY.

The imports of rare earth ore remained at a high level in March. Due to severe cost pressure, holders offered firm prices. Therefore, low-priced cargoes were in tight supply. As Southeast Asia will enter the rainy season and some regions are facing wars, rare earth imports from Southeast Asia are expected to fall in Q2.