China exported 7,835 tons of rare earths in the first two months of the year, Reuters news agency reported Monday. This is an increase of almost 11 percent compared to the same period last year.
By contrast, production of neodymium-praseodymium oxide, which is needed to make strong magnets, declined in China in February, according to industry portal Shanghai Metals Market. However, the decline of 2.5 percent compared to the same month last year is relatively small. Generally, an increase in mining, processing and also export of these and other rare earth materials is expected in the course of the year, said an analyst from Shanghai Metals Market in an interview with financial services group S&P. However, the increase is not expected to be significant, the analyst added. With demand growing at the same time, including in China itself, further increases in rare earth prices can therefore be expected in the course of the year, he said.
Photo: iStock/Sybille Reuter