China's rare earth exports drop 7.1% in November

MG News | December 10, 2024 at 11:34 AM GMT+05:00

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December 10, 2024 (MLN): China's exports of rare earth minerals in November slipped 7.1% from October, customs data showed on Tuesday.

This is attributed to the diminished overseas restocking required to meet Christmas holiday production needs, as Reuters reported.

The world's largest producer of rare earths shipped 4,416 metric tons of the 17 minerals that are used in the making of products ranging from electric vehicles to consumer electronics last month, General Administration of Customs data showed.

China exported 4,753 tons of these minerals in October, and 4,205.8 tons in November 2023, it added.

Cumulative exports in the 11 months of 2024 rose 6.6% from a year before to 52,105 tons, the data showed.

China's rare earths imports last month declined 20.9% from the year before to 11,327 tons, bringing the total from January to November to 123,288 tons, a year-on-year fall of 22.7%.

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