China’s rare earth export up in 2010

China’s rare earth export actually went up in 2010, despite all the talk about tensions and impact of quota decrease.

China exported 35,000 tons of rare earth from January to November in 2010, up 14.5 percent year-on-year, according to the website of China’s Ministry of Commerce.

Japan, EU, and US are the main export market, taking 86 percent of the overall export, the ministry said.


“China will keep supplying the world market with rare earth, and manage the export quota based on WTO rules,” said Yao Jian, spokesman for the Ministry of Commerce.
Yao said international cooperation will help the rare earth supply. “US, Australia, and some countries in the middle Asia have expanded rare earth production. I think this will help to ease the tension in rare earth supply,” he said at the press conference.

China takes 36 percent of the world’s rare earth reserve and 90 percent of the global supply. In 2010, the export quota decreased by 30 percent than 2009.

“We will further complete the rare earth regulation system in global cooperation, including rare earth export and production policies,” said Yao.

Here is the link for the transcription of the press conference: http://www.mofcom.gov.cn/xwfbh/20110118.shtml