Inner Mongolia's Rare Earth Exports Soar Jan.-Apr.

Inner Mongolia's rare earth exports soared in the first four months this year, with 1,259.6 mt, 4.3 times higher than the same period last year, 20.6% of total domestic rare earth exports.

Domestic rare earth exports have been growing since the start of 2013. YTD rare earth export value through April by Inner Mongolia reached USD 14.562 million mt, up 25.8%, to account for 10.7% of total national volume. Exports in April were 459.3 mt, compared to zero the same period last year, up 49.4% MoM; the average export price was USD 11,000/mt, down 8.3% MoM. The average export price during January-April was USD 12,000/mt, down 75.5%.

The significant growth in Inner Mongolia's rare earth exports is attributable to the low export volume over the same period of 2012, with no export recorded during February-April, and with only 237.3 mt exports made in the first four months. Inner Mongolia exported 1,259.6 mt of rare earth from January through April 2013 by general trade, up 4.3 times. Rare earth exporters are foreign-invested enterprises, private enterprises and SOEs, with 479.4 mt exports made by foreign-invested enterprises, up 1.1 times. Exports made by private enterprises and SOEs were 476.3 mt and 303.9 mt, respectively, with the volume by the former up 48.6 times. About 80% exports were made to US, France and Japan.

Inner Mongolia's rare earth exports increased as China raised export quotas, but soft demand remains the major factor refraining export price. Given overcapacities in resources and production and as overseas capacity is released, the dependency degree of US and Japan on China's rare earth is decreasing.


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