According to customs data statistics, the import volume of unspecified rare earth oxide in China reached 2874 tons in October, a month on month increase of 3%, a year-on-year increase of 10%, and a cumulative year-on-year increase of 287%.
Since the relaxation of epidemic policies in 2023, China’s import volume of unspecified rare earth oxide has significantly recovered and has gradually approached the average level of previous years. As the main source country of undisclosed rare earth oxide in China, Myanmar accounts for over 80% of the annual import volume of undisclosed rare earth oxide. Therefore, the normal operation of local mines has the most direct impact on the overall import volume of undisclosed rare earth oxide minerals in China.
Since August this year, Myanmar has strengthened its monitoring of local mining environment and restricted the import of rare earth mining related auxiliary materials, resulting in widespread obstacles to local rare earth mining work. China has never listed a significant decline in the import volume of rare earth oxide.
According to customs data, the import volume of undisclosed rare earth oxide in China decreased by 19% month on month in August, and by 28% month on month in September.
The good news is that Myanmar has recently relaxed restrictions on the import of auxiliary materials. Some miners have stated that production is gradually returning to normal, and it is expected that the import volume of unspecified rare earth oxide in China is expected to continue to grow to over 3500 tons in November.
Post time: Nov-28-2023