China’s rare earths exports rose to their highest in seven months as overseas demand began to show signs of recovery from a pandemic-hit year.
Exports of the group of 17 minerals – vital in the production of electrical and electronic components, lasers and magnets – from the world’s biggest producer of rare earths reached 4,330.4 tonnes last month, up from 3,920.2 tonnes in September.
That was 10% up on the previous month and the highest figure since March, according to data from the General Administration of Customs released on Sunday. It was also an increase of 89% from October 2020, when overseas demand was subdued amid the Covid-19 pandemic.
Exports in the first 10 months of 2021 were up 39.4% on the year at 39,967.7 tonnes.
- Reuters with additional editing by Sean O’Meara