Data released by China's General Administration of Customs showed that exports of rare-earth magnets to Japan totaled 111 tonnes in July, a steep decline of approximately 52% year on year. They were down approximately 14% from the previous month, remaining below 200 tonnes for the fifth consecutive month.
China's exports of rare-earth magnets to Japan totaled 111 tonnes in July, down approximately 52% year on year and approximately 14% month on month. Exports have remained below 200 tonnes for the fifth consecutive month.
Rare-earth magnets are a major category of rare-earth products. It is said that Japanese companies have faced difficulty obtaining export permits since parliamentary statements last year concerning a Taiwan contingency.
Global exports totaled 5,375 tonnes in July, down approximately 5% month on month and approximately 4% year on year. Exports to the United States totaled 647 tonnes, up approximately 33% month on month and approximately 5% year on year, showing that exports to Japan remain relatively low.
In a corporate survey released on 31 July by the Japanese Chamber of Commerce in China, respondents called for improvements, saying that prolonged customs inspections had caused delivery and shipping delays. There have also been reports that customs procedures for a wide range of cargoes, including rare earths, have been taking longer for Japanese companies.