Recently, the General Administration of Customs released import and export data for July 2023. According to customs data, the import volume of rare earth metal ore in July 2023 was 3725 tons, a year-on-year decrease of 45% and a month on month decrease of 48%. From January to July 2023, the cumulative import volume was 41577 tons, a year-on-year decrease of 14%.
In July 2023, the import volume of unlisted rare earth oxides was 4739 tons, an increase of 930% year-on-year and 21% month on month. From January to July 2023, the cumulative import volume was 26760 tons, an increase of 554% year-on-year. In July 2023, the export volume of unlisted rare earth oxides was 373 tons, an increase of 50% year-on-year and 88% month on month. Accumulated exports of 3026 tons from January to July 2023, a year-on-year increase of 19%
From January to July, about 97% of China’s unlisted rare earth oxide came from Myanmar. Currently, the rainy season in Southeast Asia has ended, and the import volume of rare earth has increased again. Although there was a customs lockdown for about a week in mid July, the import volume of unnamed rare earth oxide from Myanmar still increased by approximately 22% month on month.
In July, the import volume of mixed rare earth carbonate in China was 2942 tons, an increase of 12% year-on-year and a decrease of 6% month on month; From January to July 2023, the cumulative import volume was 9631 tons, an increase of 619% year-on-year.
In July 2023, China’s export volume of rare earth permanent magnets was 4724 tons, an increase of only 1% year-on-year; From January to July 2023, the cumulative export volume was 31801 tons, a year-on-year decrease of 1%. From the above data, it can be seen that after the end of the rainy season in Southeast Asia, the growth of rare earth imports continues to intensify, but the export volume of rare earth permanent magnets does not increase but decreases. However, with the upcoming “Golden Nine Silver Ten” period, most businesses have increased their confidence in the future market of rare earths. In July, due to factory relocation and equipment maintenance, domestic rare earth production slightly decreased. SMM predicts that rare earth prices may continue to fluctuate in a narrow range in the future.
Post time: Aug-25-2023