Shandong Port: Rare earth exports rose from Jan to Oct

(China Aluminum Network) According to Qingdao Customs, rare earth exports at Shandong port reached 1177 tons in the previous 10 months with an increase of 3.4% YoY; the average export price was 7718 dollars per ton with an increase of 77.5% YoY. Known as “Industrial monosodium glutamate”, rare earth has become “industrial gold”.

Since this year Shaodong’s rare earth export showed falling trend. January export was 404.5 tons, which was the monthly highest of this year. In the second half year, as rare earth export quotas slipped sharply, September exports reached 16.3 tons, which touched the lowest level of this year. October exports marginally rose, which reached 22.1 tons with a decline of 95.1% YoY.

Affected by export quota, the average price of rare earth exports in Shandong port continues to rise after June. The average export price in September was 52,000 dollars/t in September with an increase of 11.8 times YoY, which created the highest monthly record of rare earth export in Shandong.

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