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[ferro-alloys.com] China's volume of rare earth exports rose 75% in July. It was the second highest monthly level this year. Exports surged to 1,778 tonne, a growth rate of 10.4% from June.

In the first seven months of this year, the export volume of rare earth in China was at 11,185 tonnes. The value of export sof rare earth ore, metals and mixtures decreased 57.1% year on year to US$245.7 million in the period.

 

Rare earths, a group of 17 elements, are essential in the manufacture of an array of high-tech products, including wind turbines and hybrid cars.

China, which has 23 percent of the world's reserves of rare earths, accounts for more than 90 percent of the world's supply.

The United States and Japan are still the two biggest buyers of China's rare earth ores, even though overseas exploration and production are increasing.

During the first five months of the year, US imports from China totaled about 4,000 tons, making it the top overseas buyer. Japan was second with imports of about 3,500 tonnes.

 

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