February rare earth exports soared nearly 3 times

In February of this year, China's exports of rare earths were 1,106 tons, a year-on-year increase of 289.12%, while rare earth prices fell. "Large price" is a reflection of China's rare earth exports last month.

In fact, China’s exports of rare earths have been declining for several consecutive months. In January this year, the drop was as high as 37.56%. Regarding the reasons for the outstanding performance of rare earth exports in February, Minmin Min, an analyst at Minmetals Securities Minerals, believes that the basis for the same period last year was too low and that China’s rare earth exports were only 284 tons during the month. In addition, the surge in rare earth exports in February also benefited from the decline in prices. Data show that in February the rare earth price of 226.5 million US dollars / ton, compared with the previous month's 25,540 US dollars / ton decreased by 11.32%.

"Large quantities are low, and prices are low, so many are sold. In particular, March is generally the peak sales season for rare earths. Many companies will make up the inventory in advance. In addition, due to the Spring Festival factors in February, many companies will concentrate on replenishing stocks after the post-holiday company resumes production. " Tao Minmin analysis said.