The General Administration of Customs of China released its August trade data. Exports of rare-earth magnets to Japan totaled 212 tonnes, down 17% year on year but up approximately 90% month on month.
According to August trade data released by the General Administration of Customs of China, exports of rare-earth magnets to Japan totaled 212 tonnes, a decrease of approximately 17% year on year. On a month-on-month basis, however, exports increased significantly, returning to a level above 200 tonnes.
Rare-earth magnet exports fluctuate significantly on a monthly basis, and the continuing double-digit year-on-year declines suggest that there has been no major change in the Chinese authorities' stance toward exports to Japan.
The same data showed that exports worldwide totaled approximately 5,010 tonnes, down approximately 7% month on month and approximately 18% year on year. Exports to the United States totaled approximately 512 tonnes, down approximately 21% month on month and approximately 13% year on year.
Rare-earth magnets are positioned as one of China's representative products. While some observers have pointed to the Chinese government increasing pressure on Japan, there are also views that reports are emerging of Japanese companies facing increasing difficulty obtaining export licenses.