ferrite magnets
China's rare earth export volume drops sharply in 2020, average price rises slightly
Jan 18,2021.

According to customs statistics, in 2020, China's rare earth export volume will be greatly reduced and prices will rise slightly, exports have fallen to the lowest point in five years, and the average export price has risen to the highest point in five years.

Specifically, China’s exports of rare earths in 2020 were 3,5447.5 tons, a 23.5% year-on-year decrease, and the year-on-year decline for the second consecutive year, and the year-on-year change rate showed a continuous downward trend.

The figure below shows the export volume of rare earths from 2013 to 2020

rare earth neodymium magnets market

In terms of prices, the average export price of rare earths increased slightly by US$0.2/kg to US$9.7/kg in 2020. Data analysis shows that since 2017, the average export price has shown a slight upward trend.

Since 2017, the growth rate of China's rare earth exports has decreased for the first time. In 2018, trade frictions began to hinder global investment and trade, and the global application of rare earths has decreased. In addition, the ensuing outbreak and spread of the new crown pneumonia epidemic affected production, consumption, and trade and led to a global economic recession, which led to a decrease in rare earth consumption.

In addition, countries’ emphasis on rare resources and environmental protection, as well as targeted countermeasures against trade frictions have more or less strengthened the control of China’s rare earths, leading to an accelerated decline in rare earth exports.

The increase in rare earth prices is the effect of changes in the supply and demand pattern. It is the change of short positions under the influence of the epidemic in the first half of the year. It is the rise of the return to Chinese manufacturing under the raging global epidemic. Consumption continues to escalate, demand increases rapidly, and the prices of raw materials for bulk commodities in China continue to rise. , Rare earth is just in response to the current surge in raw material prices. Rare earth, as a strategic resource and special material, has attracted much attention. After many rapid rises and falls, the market lacks durability and confidence. When supply and demand really change, there will inevitably be doubts again, but this time the price of rare earths is stepped The rise has already explained the development trend of the industry.

Request a free quote
If you are interested in our products and want to know more details,please leave a message here,we will reply you as soon as we can.
Leave a message
welcome to BearHeart
If you are interested in our products and want to know more details,please leave a message here,we will reply you as soon as we can.