February 2014 rare earth export market Huangpu Port Operations Analysis

According to customs statistics , from January to February 2014 , after Huangpu port of export of rare earth ( including rare earth products ) 261.2 tons , an increase of 94.4% over last year ; worth 84.65 million yuan , down 4.8% ; average export price of 324,000 yuan per ton , fell 51%.

U.S. dollar -denominated , 2014 January-February , exports of rare earths by Huangpu Port value $ 13,850,000 , down 2.2% ; average export price of U.S. $ 53,000 per ton , down 49.7% .

2014 1-2 menstrual main features of Huangpu Port of rare earth exports :

( A ) February exports doubled year on year , the export price has dropped significantly. Since 2014 export volume of rare earths by Huangpu Port continuation of growth in 2013 , two month export 121.9 tons , an increase of 4.7 times . The average export price terms , since 2013 11 menstrual Huangpu Port of rare earth export price hit a new high since 2012 , the average export price from December onwards rapid decline for three consecutive months , which , in February the average export price of 272,000 yuan per ton , down 74.4% , down 26.5% .

Exports accounted for over 80% (b ) the general trade , processing trade exports decrease . 2014 January-February , after Huangpu Port to the general trade export of rare earth 215.5 tons , an increase of 1.8 times , accounting for the same period was 82.5% of total exports of rare earth Huangpu Port . The same period , processing trade export 45 tons , reducing by 19.8% , accounting for 17.2%.

(C ) are mainly exported to the EU, Japan and Hong Kong. 2014 January-February , exports to the EU by the Huangpu Port 110.1 tons , an increase of 1.9 times ; exports to Japan 50 tons , an increase of 5.3 times ; 45.2 tons of rare earth exports to Hong Kong , decrease of 19.7% ; market for these exports accounted for 78.6% of the total . The same period, U.S. exports 28.7 tons , surged 5.1 times , accounting for 11 %.

( Iv) private enterprises and state-owned enterprises as the main export . 2014 January-February , exports of private enterprises through Huangpu Port 124.4 tons , an increase of 2.5 times , accounting for 47.7% ; addition, state-owned enterprises exported 123.3 tons of rare earth , an increase of 44.2% , 47.2% . Foreign- invested enterprises exported 13.3 tons , an increase of one percent (5.1%) .

The current rare earth export prices collapsed mainly due to :

( A ) the impact of the rare earth industry chain of rare earth black formal market . Due to inadequate laws and regulations on rare earth production , circulation of illegal behavior is difficult to cure. Illegal production enterprises rely on illegal mining digging steal to get raw materials in the production process and evade the regulatory environment , coupled with the sale of non-payment of taxes to rely on smuggling , the production cost is very low. Black earth industry chain to make regular product sales are sluggish , increasing the regular production difficulties and market malaise . Illegal poaching , unplanned production have occurred , forming a set of mining, production, circulation , smuggling as one of the chain of black interests seriously disrupted the market order , leading to a significant decline in the price of rare earth products .

(B ) demand and capacity conflicts exacerbated the weak market prices. The past two years , the world economic recovery is slow , demand for rare earths slowdown , the U.S., Japan , the European Union and other major importing countries continued to decrease rare earth rare earth imports. Meanwhile, after the third quarter of 2011 , the domestic rare earth sharp price increases , cost pressures forced some low-end application of rare earth out of the market . In 2012, global demand for rare earths market less than 10 tons, despite the emergence of the global rare earths market demand increased slightly since 2013 , but the increase is far from China's rare earth production capacity to digest . At present, China 's rare earth separation capacity of 400,000 tons , the global demand of 150,000 tons of rare earth oxides . Our annual output reached 20 million tons of rare earth , whether light or heavy rare earth rare earth glut of excess capacity are . Moreover, according to statistics , currently there are 22 companies intend to build capacity planning , total annual output of 69,800 tons , if fully completed by the end of 2014 , the end of China NdFeB production capacity will reach 21.2 percent increase , the market situation will be more is grim.

(C ) technical progress weakens the strength of rare earth consumption . With prices soaring in recent years, rare earth , rare earth enterprises have applied through technological innovation , or reduce the amount of rare earths , or looking for alternatives. Currently, the device is to light rare earth permanent magnet development , although rare devices increased demand , but the demand for total rare but not synchronous growth , and even reduced. In addition , thanks to technological advances , LED lights has replaced the traditional trend of energy-saving lamps . LED lights are much less rare than the required three-color light , which makes the global demand for rare earth phosphors declined significantly.

It is noteworthy that , on one hand , the country 's rare earth industry consolidation to accelerate . January 2014 , in conjunction with the Ministry of Land and Resources , the SASAC and other departments and throughout the 12 main producing rare earth formation competent bodies to convene a special meeting of the Group of large rare earth enterprises , China's rare earth industry mergers and acquisitions has made ​​positive progress in the era of the large group of rare earth has been created . On the other hand , the EU intends to launch an attack on China rare earth issue . In mid-February 2014 , the European Commission Trade Commissioner De Gucht said in an interview with Reuters , the EU will take action to a wide range of Chinese government subsidy programs , in order to resist being unfairly subsidized products into the European market of low-priced and pose a threat to European industry . In addition to subsidies , the De Gucht said in an interview also highlighted the problem of rare earth , claiming that currently does not have the legal basis for challenging China's rare earth policy, but the EU will seek other sources of supply , while China has pledged to meet the EU requirements for rare earths demand.


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