Dec. 9  – The average export price of rare earths from China’s Inner Mongolia dropped 26.6% year-on-year to 47,000 yuan per tonne ($7,648) in the first ten months of the year, data from China Customs Statistics Information indicate.

The information center attributes the declining export prices to an acceleration of rare earth mining and even refining operations in other rare earth producing nations which intensified competition in global rare earth market.

Statistics show 429 rare earth projects of 261 companies from 37 countries (excluding China) have been put online or are under planning, which is expected to take market share from Chinese rare earth products.

Total value of exports from Inner Mongolia tumbled 46.4% from the same period last year to 150 million yuan.

Export volumes of rare earths from Inner Mongolia fell by 27.7% year-on-year to 3137 tonnes January-October, with shipments to Japan up 8.5% to 691 tonnes. The US remained the top buyer, but exports to the country slipped 28.1% in the first ten months to 1564 tonnes. 
 
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