Compared to the previous month, exports of strategic raw materials decreased slightly.
China exported 17.8 percent more rare earths in April compared to the same month last year. This is reported by Reuters news agency, citing data from the China Customs Administration. However, at 4,427 metric tons, exports were down 8.6 percent from March 2022.
No information was given on the background to the decline; China’s foreign trade is currently facing major challenges in general due to the government’s zero-covid strategy. There are repeated interruptions in production and logistics and even border closures. As a result, the country recorded its slowest export growth in April since June 2020, writes Wirtschaftswoche.
Rare earth imports from Myanmar are also affected by the measures to contain the pandemic, writes industry service Shanghai Metals Market. China obtains mainly medium and heavy rare earths from the neighboring country for further processing. These raw materials include dysprosium, which together with neodymium is needed for the production of permanent magnets for electric cars and wind turbines.
Photo: iStock/Sybille Reuter