China Announces First Batch of Rare Earth Export Quotas in 2013

Abstract The Ministry of Commerce recently announced the first batch of rare earth export quotas for 2013, totaling 15,501 tons. According to Japanese media, the demand for rare earths in China has fallen sharply in the global market. China's 2012 rare earth exports (13,000 tons) were the lowest in 10 years, and the quotas were not completed (3...
The Ministry of Commerce recently announced the first batch of rare earth export quotas for 2013, totaling 15,501 tons. According to Japanese media, the demand for rare earths in China has fallen sharply in the global market. China's rare earth exports (13,000 tons) in 2012 were the lowest in 10 years, and half of the preset quota (30,996 tons) was not completed. The export quota set in 2013 is “excess quota” that does not meet the supply and demand of the global rare earth market.

Japanese media reported that rare earth is an indispensable raw material for the manufacture of smart phones and high-tech products. After the collision of the Diaoyu Islands in September 2010, China’s “sanction measures” to reduce rare earth exports prompted Japan and the United States to develop Rare Earth alternative technologies and get rid of China. Dependence and other aspects have accelerated, which has led to the continuous decline in the price of rare earths in the international market since last year. This has made China's crisis more gradual, trying to ensure market position by expanding supply, and the number of Chinese rare earths seeking Japanese companies to buy is increasing.

It is reported that before 2010, China's rare earths meet about 90% of the global demand for rare earths, the largest of which is Japan. In March of this year, Japan, the United States and Europe have jointly filed a lawsuit against the WTO on China's rare earth regulation.

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