Rare earths on shaky ground
Updated: 2013-08-09 00:10
By DU JUAN (China Daily)
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China's exports of rare earth ores and downstream products have increased month after month this year, but many companies are struggling as prices and demand stay low and overseas supplies rise, said a senior official on Thursday.
China exported 2,196 metric tons of rare earth ore in April, up 600 percent year-on-year and 38 percent month-on-month, according to the latest data from the customs office.
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A rare earth mine in Xichang, Sichuan province. China's rare earth ore production was 41,000 metric tons in the first half of the year, according to the Ministry of Industry and Information Technology.PROVIDED TO CHINA DAILY |
"China's rare earth ore exports have been rebounding monthly since February,"said Ma Rongzhang, secretary-general of the China Rare Earth Industry Association.
But Ma and the association did not provide export figures for the first half.
Ma spoke during the Fifth China Baotou Rare Earth Industry Forum held in Baotou, Inner Mongolia.
"Some companies (mainly small ones) have stopped production (because of low prices),"he said.
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.
According to the Ministry of Industry and Information Technology, China's first-half rare earth ore production was 41,000 tons, accounting for 87 percent of the planned production.
China, which has 23 percent of the world's reserves of rare earths, accounts for more than 90 percent of the world's supply.
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