Source:Reuters
BEIJING (Reuters) - China, the world’s top producer of rare earth elements, last year also emerged as the biggest importer of the group of minerals used in everything from ceramics to consumer electronics, analysts said on Wednesday.
China has for years been the world’s biggest rare earths exporter, raising shipments overseas by 4 percent year-on-year to more than 53,000 tonnes in 2018, and its emergence as the top importer as well is a sudden and surprising development.
The country imported 41,400 tonnes of rare earth oxides and oxide equivalents in 2018, up 167 percent year-on-year, as a crackdown on illegal production reduced domestic output, according to a report by consultancy Adamas Intelligence.
Shipments were primarily in the form of mineral and chemical concentrates from Myanmar and the United States, Adamas managing director Ryan Castilloux said.
In the case of at least seven key rare earths — including praseodymium, used in magnets, and yttrium, used in ceramics — China was a net importer in 2018 for the first time in more than 30 years, Castilloux told Reuters.
“It is definitely the first time since at least 1985 when China emerged as a major producer of rare earths,” he said.