Rare Earths: Exports From China up Significantly in May

by | 7. Jun 2024 - 08:27 | Economy

China exported significantly more rare earths in May than in the same period last year. The increase is significant at almost 36% to more than 6,217 tons, as figures from the customs authority show. Exports of this group of raw materials also increased by around 36 percent compared to April of this year. Reuters attributes this development to the fact that overseas buyers have increased their stocks, among other things. Rare earths are used to manufacture components in wind turbines and electric cars, among other things. China is also reporting positive news from overall exports. According to Reuters, this grew much more strongly than expected in May as demand from abroad increased. However, imports are growing more slowly, indicating that domestic demand is still weak.

Photo: iStock/SHansche

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