China exported 3,326 tons of the minerals in December, versus 4,416 tons in November and 3,439 tons in December 2023.China's exports of rare earth minerals in 2024 rose 6% from the year before, customs data showed on Monday, as domestic demand for the critical mineral disappointed amid sputtering economic growth.
The world's largest producer of rare earths last year shipped a total of 55,431 metric tons of the 17 minerals that are used in the making of products ranging from electric vehicles to consumer electronics, General Administration of Customs data showed.
China exported 3,326 tons of the minerals in December, versus 4,416 tons in November and 3,439 tons in December 2023.
Imports
China's rare earth imports last month dropped 41.1% from the prior year to 9,645 tons, bringing the total from January to December to 132,931 tons, an annual decline of 24.4%.
Analysts say the drastic fall in imports last year was mainly due to reduced supply of raw materials from the United States and Myanmar, the other two major producers of rare earths.
An armed group fighting Myanmar's military regime said last October that it had taken control of a mining hub that is a major supplier of rare earth oxides to China, disrupting shipments.
Imports from the U.S. and Myanmar slipped by 14.6% and 31.6% year-on-year respectively in the first 11 months of the year, customs data showed.
