Reuters: China June Rare Earth Exports Rise, Snapping Two Months of Declines
Exports up 9% in June versus month prior, easing supply concerns amidst the ongoing U.S. – China trade war
Late last week Adamas Intelligence spoke with Reuters about the latest China rare earth export figures in the context of the ongoing U.S. – China trade war.
As revealed by Reuters, China exported 3,966 tonnes of rare earth oxides (and oxide equivalents) in June 2019, up from 3,640 tonnes in May, but down sharply 27% from 5,455 tonnes in June 2018.
Over the first half of this year, China exported 23,232 tonnes of rare earth oxides (and oxide equivalents), down 11% year-over-year.
Among the points emphasized by Adamas:
- The lack of a pronounced increase in H1 (exports) tells us the U.S. called China’s bluff and held firm on its belief that supplies will keep coming.
- It also indicates that global buyers are confident prices will not spike outside their comfort zones otherwise we would have expected to see them stocking up as the recent price rally kicked off in March
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