In October, China's rare earth exports decreased and prices rose

The analysis of customs statistics shows that the price of China's rare earth exports decreased in October 2202, and the extent shows that it is restorative and consistent with the overall economic environment.

Specifically, in October 2022, China's rare earth export volume was 3604 tons, a year-on-year decrease of 16.8%, the largest amplitude since 2022.

By comparison, the export volume in October 2022 is the lower value of the monthly export volume, while the export volume in October 2021 is the higher value of the monthly export volume, which has a restorative feature.

In terms of consistency characteristics, according to the analysis of customs statistics, most of China's bulk commodity imports decreased in the first 10 months, showing a pattern of volume reduction and price increase (for example, the volume and price of iron ore imports fell at the same time in the first 10 months, and the import volume of crude oil, coal, natural gas and soybeans decreased and price increased).

In terms of price, the average export price of China's rare earths also shows the above consistency characteristics and restorative characteristics.

More specifically, the monthly average price (total amount/total amount) in October hit a new high of 26.4 dollars/kg, up 77.1% year on year. This price is higher than the average price of $26/kg in August, while the average price of $19.2/kg in September is the second lowest since January 2022. In addition, large changes are related to specific commodity categories.