China Daily reported that China’s Ministry of Commerce has released this year’s second round of rare earth export quotas. Though demand for the metals is on the rise, it looks like the ministry has no plan to raise quotas.
As quoted in the market nws:
The export quota includes 13,691 metric tons for light rare earths, down 130 tons from last year,and 1,809 tons of medium and heavy rare earths, up 130 tons.
The total export quota this year is 30,610 tons, down 389 tons from last year.
First-half exports of rare earths surged some 50 to 60percent as a result of increasing demand overseas, low output by suppliers outside China and lower prices.