Decline of China Rare Earth Exports
Under the mainland rare earth resources protection policy, the rare earth export has a substantial reduction and the prices continued to rise. According to statistical data, in February of this year, China's rare earth average export price level has been exceeded $ 100,000 per ton (approximately HK $ 7.8 million), compared with a year ago, it surged 9 times. In the past few months, according to data released by the General Administration of Customs, China's rare earth exports average price every month is up to $ 10,000 per ton, and the rare earth manufacturer said that it is very hard to do export business this year. From since the beginning of this year, China's exports of rare earth price increase is particularly alarming, the data shows that single in the month of February, the average price of Chinese exports of rare earth is up to $ 34,000 per ton. View of China's introduction of restrictions of rare earth export policy, the United States, Canada and Australia and other countries have increased the domestic rare earth resources exploration and development efforts to deal with the situation to reduce the supply and prices.
China Rare Earth Export Prices
The so-called rare earth is the general term of 17 kinds of special metal elements. China supplies about 97% of the world's rare earth. The applications of rare earth cover iPods and wind turbines, smart phones, electric car motors and high-tech industrial equipment. In 2003, the Chinese government released the quota system of rare earth; in 2005, the Chinese government canceled a rare earth export tax rebate, and the compression enterprise quota of export quotas. In April 2006, the Chinese Ministry of Land and Resources to stop issuing permits mining of rare, from November 1 of the same year, the Chinese government imposed export tariffs on commodities such as rare earth and ferrosilicon. The quota system is decided according to the amount of 80% of the worldwide export quotas. All these policies show that Chinese government is limiting the exploration of domestic rare earth. This makes a barrier for the rare earth supplier in China. It is much more difficult for them in foreign trade.
Western Countries Depend on China Rare Earths
The face of China's rare earth export policy adjustments, the western countries and Japan and the United States are consistent with the shelling of China, they think China is in violation of WTO rules. Krugman, the Nobel laureate in economics published in the New York Times from rare earth export the rogue economy" as the culmination. The Beijing News Posting questioned "Krugman, on what basis shelling of China's rare earth export restrictions policy? The reason is that China accounts for only 30% of the world's rare earth resources, why should bear 97% of consumption? U.S. rare earth reserves ranks the third in the world, why stop mining in favor of imports from China and other places? Why the United States can protect its own environment, but at the expense of China's environment? In fact, it is not the exploitation of rare earth, but the United States has long been cheap Chinese dumping to the defeated. Originally, the U.S. rare earth mining accounts for 30%, was mothballed in 2001, the largest rare earth mine in Mountain Pass mine Since then, the United States is no longer has production of rare earth, and more are no longer exported, but it imports in large quantities from China instead.
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