🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

UPDATE 1-China Oct rare earth exports rise after previous month's slump

Published 08/11/2019, 03:24 pm
Updated 08/11/2019, 03:28 pm
UPDATE 1-China Oct rare earth exports rise after previous month's slump
LYC
-

* Oct rare earth exports up 1.9% m/m at 3,639 T

* China supply fears fade as U.S. trade talks progress

* Jan-Oct exports down 7.1% y/y at around 40,000 T

BEIJING, Nov 8 (Reuters) - China's rare earth exports rebounded slightly in October after sliding the previous month, customs data showed on Friday, with the world's top producer of the minerals not following up on a threat to curb supply amid an easing of U.S. trade tensions.

Exports of the group of 17 chemical elements used in consumer electronics and military equipment came in at 3,639.2 tonnes last month, according to General Administration of Customs data.

That was up 1.9% from 3,571 tonnes in September, which registered a near-19% month-on-month drop. The October shipments were also up 17.4% from a year earlier. in late May raised the prospect of limiting rare earth exports to the United States as part of the long-running trade war between the two countries. Beijing has not formally announced any restrictions on exports, and it is now working with Washington to finalise a so-called "phase one" deal to end the trade row. Corp LYC.AX , the only major rare earths producer outside of China, said last month that while U.S.-China trade tensions were leading to greater interest in rare earths, they were continuing to have a short-term negative effect on market confidence. the first 10 months of 2019, China's rare earth exports, which can widely fluctuate, came in at 40,037.2 tonnes, down 7.1% from the same period last year, customs said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.