China is the largest exporter of Rare Earth in the world. Rare earth mining is characterized with long process, great environmental damage and high comprehensive cost. Rare earth mining is less in other regions in the world while China is the most important exporter of rare earth resources in the world. Export volume of rare earth increases annually in China since 2012, but the total export value keeps declining due to the falling back of prices.
Export Volume of Rare Earth Metals Unit: Ton
Source: China Customs
Export Value of Rare Earth Metals Unit: Million USD
Source: China Customs
Application of Rare Earth in Permanent Magnet Field
Rare-earth permanent magnet is the largest market of rare earth application, which mainly demands for elements including praseodymium, neodymium, dysprosium and terbium. The prices of these elements are high but they are at the bottom at present. Under the influence of cracking down illegal business and industrial integration, rare earth prices are expected to rise. In terms of the present operating mode of rare-earth permanent magnet industry, rise in rare earth prices will transfer to downstream and will increase profits. Therefore, rise in rare earth prices brings benefit to the industry.
Neodymium Metal 99.0-99.9% Price Trend (CNY/Kg)
Praseodymium 96.0-99% Price Trend (CNY/Kg)
Dysprosium Metal 99.0% Price Trend (CNY/Kg)
Terbium Metal 99.9% Price Trend (CNY/Kg)
At present, the annual production capacity of China’s RE extraction enterprises is over 300,000 tons. However, annual global demand is less than 200,000 tons, including 50,000 tons to 60,000 tons on the international market and 100,000 tons on the domestic market.
China’s cheap rare earth occupied the global market, and most countries in the world stopped the exploitation of rare earth. China’s reserves of rare earth once accounted for 71.1% of the global reserves while the percentage declined to 40% in 2015.
The production volume of tungsten, molybdenum, indium, bismuth, germanium, gallium and tellurium is very small, but all of these metals have special attributes, making them indispensable materials in the high-tech industry.
Metal and mining companies are engaged in the production or mining of metal and ores. Mineral resources contain metal elements or compounds that can be extracted for industrial use.