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China’s rare earth exports down in April

09 May 2018 12:23 (+01:00 GMT)
China's rare earth exports down in April

Beijing, 9 May (Argus) — China's rare earth exports dropped sharply in April year on year on higher inventories and expectations of price falls.

China exported 3,873t of rare earths last month, down by nearly 24pc from 5,068t in the same month last year. But export revenue was unchanged at 280mn yuan ($44mn) because the average export price rose to Yn72,295/t from Yn55,248/t in April 2017

April exports were also down by 7.3pc from 4,180t in March. And the average export price rose by 8pc from Yn66,985/t in March.

Buyers outside China have sufficient stocks and are opting to wait for prices to move lower.

In the first quarter China exported 16,322t of rare earths, down by 7.4pc from 17,627t a year earlier.

Export revenues totalled Yn930mn in January-April, up from Yn920mn a year earlier. The average export price was Yn56,978/t, up from Yn52,192/t a year earlier. A full breakdown of rare earth exports will be released towards the end of the month.

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