ferrite magnets
China's rare earth exports fell 3.8% in June
Jul 20,2021.

China has a vast territory and contains precious and scarce rare earth resources. Rare earths play a core role in industrial metallurgy, chip manufacturing, and even aerospace. Statistics show that China's rare earth reserves account for 36% of the world's total reserves, and it is a veritable rare earth country. In addition, China also bears 90% of the world's rare earth exports.

According to the latest data from Chinese officials on Tuesday (July 13), in June 2021, China exported a total of 4012.4 tons of rare earths, a decrease of 3.8% compared with the export volume of 4171 tons of rare earths in May.

Since China currently holds a large global supply of rare earths in its hands, China is the source of rare earth resources in many countries. According to statistics from relevant U.S. agencies, in 2018, the U.S. rare earth supply was 100% dependent on foreign imports, and 80% of the rare earths came from China. Among the 35 rare earth elements recognized and used in the United States, 13 are imported from China. It can be seen that the United States cannot do without China's rare earth resource market.

Rare earth permanent magnet materials have a wide range of applications, including traditional industries such as computers, automobiles, instrumentation, household appliances, and emerging industries such as wind power generation, new energy vehicles, and energy-saving elevators. China's rare earth permanent magnet material industry is showing a trend of stable development, with a compound annual growth rate of 11.4%. Thanks to the strong support of the Chinese government and the continued growth of market demand in downstream industrial motors, wind turbines, new energy vehicles, consumer electronics and other applications, the industry is expected to continue to grow in the future, and the consumption of rare earth permanent magnet materials is expected to further expand , The consumption is expected to reach 164,000 tons in 2023.

As China has begun planning for the export of rare earth resources in recent years, official sources indicated that it will issue the "Rare Earth Regulations" as soon as possible to regulate the development of the industry.

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