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Industry news

Industry news

China was forced to cancelled quota since January 1th, 2015

Chinais the largest exporter of rare earth in the world, but has no voice in the international market. It is easy to export rare earth in the 1990s in China. Many local governments even rely on rare earth export to earn foreign exchange. As a result, a large number of precious rare earth export abroad at a low price. Due to protect  limited resources and environmental ,China government began to set up a rare earth export quotas to restrict export. Economies such as Europe, America and Japan, constantly brought an action against the WTO. In the past few years , China won by protecting of resources and the environment. However, starting in 2012, Europe and the United States, take divide-and-conquer method to make a victory case of rare earths, tungsten, molybdenum resources in 2014 finally.

Chinawas forced to cancelled quota since January 1th, 2015, and, cancelled  the export tariffs for many years on May 1th, 2015 (25% of  heavy rare earth,15% of  light rare earth). Influenced by this News, the export prices of China's rare earth sharply lower, lower prices led to suspend production even default until failure of abroad enterprises in rare earth field.

But it is not worth to happy for China, the rare earth as a kind of non-renewable energy, low-priced exports is actually in use of the resources of the future generations ahead of time. Now the foreigner can extract many kinds of precious metals which has strategic significance because their production technology condition is stronger than us that is an invisible against the state. Only so much a total rare earth resources, it is easier sold than bought. Besides, for the moment, manufacturing technology level of metallurgical and refractory metal in China is far behind the pace of the developed countries. China is still hard to drain from the developed country in the international high-end manufacturing market.