China July rare earth exports sink to lowest since Jan 2015

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August 7, 2020

China’s rare earth exports plunged 44% in July from the previous month, customs data showed on Friday, hitting their lowest in 51/2 years in a sign that the coronavirus has destroyed demand for the prized group of 17 minerals.

Reuters

Last Updated: August 7, 2020, 10:53 AM IST

BEIJING China’s rare earth exports plunged 44% in July from the previous month, customs data showed on Friday, hitting their lowest in 5-1/2 years in a sign that the coronavirus has destroyed demand for the prized group of 17 minerals.

Exports stood at 1,620.3 tonnes last month, the General Administration of Customs said. That was also down 69.1% year-on-year and marked the lowest monthly total based on Reuters records since China shipped 1,457 tonnes overseas in January 2015.

China is the world’s dominant producer of rare earths, which are used in consumer electronics and military equipment.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Remembering Rabindranath Tagore and His Wise Words

China July rare earth exports sink to lowest since Jan 2015

China’s rare earth exports plunged 44% in July from the previous month, customs data showed on Friday, hitting their lowest in 51/2 years in a sign that the coronavirus has destroyed demand for the prized group of 17 minerals.

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