China 2012 rare-earth exports 16,265 tons

2013-01-22 03:56:22 GMT2013-01-22 11:56:22(Beijing Time)  SINA.com

China exported 16,265 metric tons of rare-earth ore, metals and compounds in 2012, official data Tuesday showed.

That is a decline of 3.5% from 2011 and far short of the 2012 export quota of 30,966 tons.

In spite of China's near-total domination of the world's supply of rare earths, a collective name for 17 metals used in high-technology applications like mobile telephones and missile systems, prices have fallen sharply for more than a year owing to waning demand and ample supply.

The value of Chinese rare-earth exports fell 66.1% from a year earlier to $906 million, according to data from the Hong Kong-based China Customs Statistics Information Center.

In December alone, China exported 3,252 tons of rare-earth ore, metals and compounds, it said.

China's Ministry of Commerce last month set the first batch of rare-earth export quotas for 2013 at 15,501 tons saying it will account for around half the full-year quota. A senior industry official had earlier suggested to Dow Jones Newswires that the 2013 full-year quota would be around the same as last year's

(Agencies)

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