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China rare earth exports up in February

09 Mar 2018 11:37 GMT
China rare earth exports up in February

Beijing, 9 March (Argus) — China's rare earth exports increased in February compared with a year earlier, official customs data show.

China exported 4,451t of rare earths in the month, up by 35pc from 3,293t in the same month last year.

Export revenues totalled 250mn yuan ($39.5mn) in February, up by 81pc on the year, while the average export price of Yn56,167/t was up by 33pc from Yn42,162/t.

Customers outside China were eager to replenish material to avoid a further rise in prices. Many suppliers withheld their sales in anticipation of higher prices after the lunar new year holiday as a result of higher feedstock prices.

A total of 8,268t of rare earths were exported in the first two months of this year, up by 5pc compared with 7,865t in the corresponding period of 2017.

Export revenues totalled Yn490mn in January-February, up by 32pc from the same period last year, while the average export price for the same period was Yn59,264/t, up by 29pc from Yn45,955/t a year earlier.