In 2024, China imported approximately 177,535 metric tons of rare earth raw materials, marking a 19.2% decrease compared to 2023. This decline was influenced by disruptions in supply chains, particularly from Myanmar and the United States.
Key Factors Affecting Imports
- Myanmar: Political instability and armed conflicts, notably the Kachin Independence Army’s control over key mining areas, led to significant disruptions. Imports from Myanmar dropped by 31.6% year-on-year.
- United States: Shipments from the U.S. decreased by 14.6%, contributing to the overall reduction in imports.
Composition of Imports
China’s imports encompassed various rare earth compounds:
- Bastnaesite: 55,612 tons
- Monazite: 48,380 tons
- Mixed Rare Earth Oxides and Separated NdPr: 48,985 tons
- Mixed Rare Earth Chlorides: 2,883 tons
- Mixed Rare Earth Carbonate: 9,432 tons
- Other Rare Earth Metal Compounds: 12,242 tons
Major Source Countries
In 2023, China imported rare earth metals, scandium, and yttrium from several countries:
- Vietnam: 222,000 kg
- Japan: 32,400 kg
- South Korea: 566 kg
- United States: 625 kg
Export Overview
Despite being a leading producer, China also exports rare earth elements. In 2024, exports increased by 6% to 55,431 metric tons, the highest since 2014. However, the total export value declined by 36% to $488.8 million due to falling prices.
These dynamics underscore China’s central role in the global rare earth market, both as a major importer and exporter, navigating complex supply chain challenges and geopolitical factors.
Lynas Rare Earths is set to become the first producer of separated heavy rare earth elements (HREEs) outside of China, focusing on dysprosium and terbium. These metals are crucial for high-performance permanent magnets used in electric vehicles, wind turbines, and advanced electronics.
Production Plans
- Location: Lynas’ Malaysian facility is undergoing a reconfiguration to include a new solvent extraction circuit designed to separate dysprosium and terbium from a mixed heavy rare earth compound known as SEGH (samarium, europium, gadolinium, holmium, dysprosium, and terbium).
- Capacity: The facility aims to process up to 1,500 tonnes per year of SEGH, with production of separated dysprosium and terbium expected to commence by mid-2025.
- U.S. Expansion: Lynas plans to establish a processing facility in Texas, targeting an annual production of 2,500–3,000 tonnes of heavy rare earth oxides starting in 2026. This facility will process third-party feedstocks to meet production goals.
