Recently, the General Administration of Customs released import and export data for July 2024. According to customs data, in July 2024, China's imports of rare earth metal ores were 3,452 mt, down 47% YoY and down 4% MoM. From January to July 2024, the cumulative imports were 31,717 mt, down 24% YoY.
According to local separation plants in Sichuan, the continuous reduction in the imports of rare earth metal ores has affected the supply of their separation raw materials. Local separation plants began officially reducing their operating rates in August, and it is expected that the production of rare earth oxides in this region will decrease MoM starting in August.
From January to July 2024, China's cumulative imports of unlisted rare earth oxides were 32,462 mt, up 21% YoY. Among them, the imports in July were 4,270 mt, down 10% YoY and down 1% MoM.
Since June, Myanmar has entered the rainy season, and severe landslides and transportation difficulties have caused nearly 90% of mining sites in the Pangwa area to shut down. Statistics show that the imports of unlisted rare earth oxides from Myanmar in July decreased by 33% compared to June.
In July, China's imports of mixed rare earth carbonate were 21 mt, down 99% YoY but up 93% MoM; from January to July 2024, the cumulative imports were 3,134 mt, down 67% YoY.
It is understood that although the imports of mixed rare earth carbonate from Malaysia have decreased, the imports of unlisted rare earth oxides from Malaysia have increased. This is due to local policies requiring rare earth raw materials to be processed before they can be exported. "Source" Shanghai Metals Market"
English