Significant decline in December; Myanmar conflict threatens supply stability.
China’s rare earth exports rose by nearly six percent in 2024, reaching 55,431 tons. However, December saw a sharp 24.7 percent drop compared to November. Meanwhile, imports from Myanmar, a key supplier, fell by 10 percent amid ongoing civil unrest, raising concerns about future supply security.
For the full year of 2024, a significant reduction in rare earth imports to China was also observed. These raw materials are processed domestically before being exported as either finished goods or intermediate products. One of China’s primary trading partners for rare earths is Myanmar, a country enduring years of civil war. This ongoing conflict poses a potential risk to supply stability (we reported). According to Chinese authorities, imports of rare earths from Myanmar fell by 10 percent between January and November 2024 compared to the same period in 2023.
Export of Rare Earths in December 2024
China’s total foreign trade picked up pace last month, with both exports and imports showing notable growth. According to Reuters, this uptick was partly driven by companies accelerating shipments overseas in preparation for potential trade risks under the new U.S. President, Donald Trump, who had announced plans to impose new tariffs on Chinese goods.
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