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..... is just the beginning

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    China’s rare earth magnet exports hit record highs in 2014, demand expected to rise +50% in 2015

    We are just securing the data, and China’s rare earth permanent magnet exports hit record highs again in 2014. Exported to 112 countries around the world the states released by the General Administration of Customs state that China exported 21,553.285 tons of rare earth permanent magnets (HS Code: 85051110) — an increase of 14.49% from the same period of last year. The total export value was $1.36B (USD). up 1.52% year on year with the average price of exported rare earth permanent magnets $63.30 per kilogram, down 11.34% per kilogram from a year earlier.

    In 2013, China exported 18,825.516 tons with a total export value of $1.34B (USD) with an average price of $71.40 per kilogram.

    Major destinations for the rare earth permanent magnets exports, included but was not limited to the following (in order of %): U.S. 2,572,137 kg – 11.93% of total exports, Germany 2,210,214 kg — 10.25% of total exports, Hong Kong 2,103,534 kg — 9.75% of total exports; Korea 2,095,523 kg — 9.72% of total exports, and Denmark 1,551,035 kg — 7.19% of total exports.

    China’s 2014 rare earth permanent magnets imports rose 10.73% year on year to 2552.802 tons from 37 countries, with the total valued at $ 291M (USD) on an average price of $114.27 per kilogram.

    The below table shows the details of China’s rare earth permanent magnet exported and imported figures in 2014.


    Rare earth permanent magnet materials as a high-performance functional materials have been widely used in energy, transportation, machinery, medical, IT, home appliances and other areas, which has become the basis for a number of high-tech industries. China now manufactures about 80% of world’s rare earth magnets, Japan makes about 17%, and about 3% are made in Europe.

    From such as new energy vehicles, intelligent manufacturing, new generation of high-speed train permanent magnetic traction system, wind power and industrial robots, which are boosting the rare earth permanent magnet become one of the fastest growing sectors in the country.

    Demand of rare earth permanent magnets of new energy car surged last year, China’s total output for new energy vehicle in 2014 was 83,900 unit, a 400% increase from 2013. China’s output for new energy vehicle was 6,599 unit in January 2015, soaring nearly 500% from the corresponding period in 2014, according to statistics from China’s Ministry of Industry and Information Technology.

    The first high-speed rail with rare earth permanent magnet synchronous traction motor has gone off production line in Qingdao in 2014 and will enter inspection period, which will realize commercial operation. According to relevant data from China CSR, with PM traction system, production cost of trains reduces by 20%, power of single motor increases by 65% and neodymium magnetic system can save about 9.61%. In the near future, high-speed trains with rare earth magnetic traction system will be widely used in main tracks.

    Sources from rare earth permanent magnet producers said that given their current orders from customers, many company’s rare earth permanent magnet sales volume in 2015 are expected to rise more than 50%.

    Chinese market analysis institutional reported that the rare earth permanent magnet industry is expected to keep up their rapid growth over the next few years in the country.

    The prices of rare earth elements in the country are soaring due to recently over a series intensive regulation and control on rare earths, such as dysprosium oxide rose more than 15%, and Terbium oxide rose more than 35%, the others also are rising. The market players are generally expected that a rising trend of rare earths in both price and demand will continue to climb, and a new round of price rising is just the beginning.

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