China's rare earth exports fall in March
Beijing, 16 April (Argus) — Chinese rare earth exports fell year on year in March as a result of higher prices and a weaker dollar.
China exported 4,180t of rare earths in March, down by 11pc from 4,694t a year earlier. Export revenues totalled 280mn yuan ($44.51mn), up by 0.8pc from Yn277.82mn, while the average export price of Yn66,985/t was up by 13pc from Yn59,186/t over the same period.
Rare earth prices started to rise in late February after suppliers withheld sales on expectations of higher prices. But prices started to fall in mid-March when demand dipped.
A total of 12,449t of rare earths were exported in January-March, down by 0.9pc year on year.
Export revenues totalled Yn770mn in January-March, up by 19.2pc from the same period last year, while the average export price for the same period was Yn61,852/t, up by 20pc from Yn51,333/t a year earlier.