China Rare Earth Exports to Japan Surged Six Times in December
China’s rare earth exports to Japan rose more than six times in December from a month earlier.
China’s shipments to Japan climbed to 4,081 tons in December from 633 tons in November, according to a report released yesterday by Japan’s Finance Ministry.
China’s restrictions on rare earth supplies to the rest of the world have led to surging prices and prompted Japanese companies including Toyota Motor Corp. to find alternative ways to seek the resource. Exports of rare earths from China fell 9.3 percent last year, according to China customs data. The country accounts for more than 90 percent of the world’s supply of rare earths.
To contact the reporter on this story: Toru Fujioka in Tokyo at tfujioka1@bloomberg.net
To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net
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