August China’s rare earth exports

The analysis of customs statistical data shows that in August 2023, China’s rare earth exports increased in price compared to the same volume, while in price compared to the same volume.

Specifically, in August 2023, China’s rare earth export volume was 4775 tons, a year-on-year increase of 30%; The average export price is 13.6 US dollars per kilogram, a year-on-year decrease of 47.8%.

In addition, in August 2023, the export volume of rare earth decreased by 12% month on month; The average export price increased by 34.4% month on month.

From January to August 2023, China’s rare earth export volume was 36436.6 tons, an increase of 8.6% year-on-year, and the export amount decreased by 22.2% year-on-year.

July Review

Customs statistical data analysis shows that in the first seven months of 2023, China’s rare earth exports continued to grow, while the monthly export volume showed significant fluctuations in events.

(1) These 9 years in July

From 2015 to 2023, the overall export volume in July showed (event based) fluctuations. In August 2019, the Resource Tax Law of the People’s Republic of China was passed; In January 2021, the “Rare Earth Management Regulations (Draft for Soliciting Opinions)” was publicly released for solicitation of opinions; Since 2018, the US tariff war (economic war) has been interwoven with the COVID-19 Factors such as these have led to abnormal fluctuations in China’s rare earth export data, known as event-based fluctuations.

                                      July (2015-2023) China’s rare earth exports and year-on-year statistics and trends

From 2015 to 2019, the export volume steadily increased in July, reaching its highest growth rate of 15.8% in 2019. Since 2020, under the impact of the outbreak and recession of the COVID-19, and the escalation of the tariff war (concerns about China’s export restrictions), China’s rare earth exports have fluctuated significantly -69.1% in 2020 and 49.2% in 2023.

(2) First July 2023

                    Monthly export volume and month on month trend of rare earths in China from January 2015 to July 2023

Under the same export environment, from January to July 2023, China’s rare earth exports reached 31661.6 tons, a year-on-year increase of 6% and continued to grow; Previously, from January to July 2022, China exported a total of 29865.9 tons of rare earths, a year-on-year increase of 7.5%.

It is worth noting that until May 2023, the monthly cumulative export growth of rare earths in China in 2023 was once negative (fluctuating around -6%). By June 2023, the monthly cumulative export volume began to reverse to positive.

From April to July 2023, China’s monthly export volume of rare earths increased for four consecutive months month on month.

In July 2023, China’s rare earth exports exceeded 5000 tons (a small number), reaching a new high since April 2020.