Driven by the growing demand in high tech applications and lower rare earth prices, China’s rare earth shipments have steadily grown since the start of 2014. China exported a total of 12,505 tons of rare earth ore, metals and compounds in the first five months this year, representing a 60.4% increase from the 7,796 shipped in the same period of 2013 according to statistics released on June 23th by China Customs Statistics Information Center.
The data accounts for approximately 80.7% of the country’s export quotas, therefore, it is expected that the actual export volume will be within the range of the first batch of rare earth export quotas. (China’s Ministry of Commerce set its first batch of rare earth export quotas for 2014 at 15,500 tons.) China will issue a second batch of rare earth export quotas soon.

The total export value of rare earth ore, metals and compounds edged up 0.4% year to year, reaching USD$177.03 million in the five-month period according to official data. Moreover, in the first five months of 2014, Jiangxi’s exports of middle and heavy rare earths dropped 35.6% or 65.7 tons comparing with the same period of last year, while it exported a total of 1,388 tons of light rare earths, representing a 72.93% increase from a year ago.
China exported 2,391 of rare earth ore, metals and compounds in May 2014, up by 41.95% year to year from 1,684 tons a year ago, while the export value was at US$39.05 million or US$ 16,331 per ton. Last month, the export volume of rare earths in China was 2,980 tons, sold at an average price of USD$ 13,988.3 per ton. China’s actual volume of rare earth exports for the first five months of 2014 are shown below:

From January to April, China exported 4,090.26 tons of Lanthanum oxide; 1,591.75 tons of Cerium carbonate; 527.28 tons of Cerium oxide; 41.38 tons of Praseodymium oxide; 103.73 tons of Neodymium oxide; 289.05 tons of Yttrium oxide; 1,871 kg of Dysprosium oxide; 567 kg of Europium oxide and 4,708 kg of Terbium oxide respectively.

Customs data also showed that over 29 countries and regions imported rare earths from China in the first five months of this year and Japan’s imports of rare earths from China surged 99.22% year over year to 4,664 tons, including 441.9 tons of Lanthanum oxide and 1064.6 tons of Cerium carbonate (in the first four months of this year) The U.S., meanwhile, imported 4,568 tons of rare earths from China, which represents a 57.22% increase compared with the same period in 2013. Of these 2,373.9 tons were Lanthanum oxide and 268.1 tons were Cerium carbonate (in the first four months of this year). Italy imported 691 tons of rare earths, down 5.76% year on year while Germany’s rare earth imports from China rose 757.46% to reach 586 tons over the same period in 2013. Vietnam also imports rare earths from China and its total increased 72.82% year to year, amounting to some 519 tons. The Netherlands imported 442 tons of rare earths from China, representing a 53.68% year to year increase.

The six countries and regions cited above, therefore, purchased a total of 11,470 tons of rare earths from China within the January to May period, clearly showing that demand for rare earths has risen sharply. Meanwhile, Japan and the U.S. remain China’s two main rare earths importers, accounting for approximately 73.8% of the country’s total export volume in the first five months of 2014.

China, meanwhile, remains the largest producer and consumer of rare earths, accounting for an estimated 83% of global supply and 70% of global demand in 2014, according to the latest report from Roskill Information Services.

Currently, the Chinese government is improving the country’s rare earth recycling projects, which will be included into a scheduled management plan, according to China’s Ministry of Industry and Information Technology. In order to protect the environment and resources, China is preparing to adopt a series of new measures to regulate the rare earths industry in the second half of 2014.