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Reduction in China's 2012 Rare Earth Export Quotas

Posted in Industry News on 24th November 2011 |

According to market insiders, China may reduce the 2012 rare earth export quota to below 30,000 tonnes, due to the fall in exports in 2011 resulting in 8,000 tonnes of unused quota.

As Rare Earth Metals prices rocketed in early 2011, and an initial scramble to secure supplies there has been a drop in demand in the second half of the year as customers sit and wait for price reductions, or look to secure alternative sources.

As part of the restructuring of the exports quota sustem, export quotas will be allocated to larger rare earth producers with integrated mining, production and distribution operations, leading to major restructuring of smaller rare earth export companies.

China's rare earth export quota for 2011 was 30,184 tonnes.

Tags: China, Export Quotas, Rare Earths

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