China’s rare earth exports drop as prices soar on possible curbs

Bloomberg

China’s rare earths shipments fell in May as prices surged
on signs of possible export controls on the minerals amid the escalating trade war with the US.
Exports declined to 3,640 tons last month, down 16 percent from April and an 18 percent drop from a year earlier, according to Chinese customs data. Shipments, which can be volatile month-to-month, were down 7.2 percent in the first five months of the year to 19,266 tons.
Chinese rare earths prices have surged since mid-May
following a ban on imports from Myanmar and, separately, speculation that the minerals could be weaponised in the trade war. The rally has extended into June after China’s state planner announced it was studying proposals to establish export controls. The Asian nation is the world’s top producer of rare earths and the US relies on it for about 80 percent of its imports.
Shipments fell after domestic prices surged, discouraging exports, following a ban on imports from Myanmar and tariff hikes on purchases from the US, according to Wu Xiaofeng, an analyst at SMM Information & Technology Co. President Xi Jinping’s visit to a local rare earths facility also fuelled speculation that the government will bolster the domestic industry, boosting prices.

China copper imports drop over weak economic outlook
Bloomberg

China’s imports of unwrought copper and products weakened in May as concerns over the global economic outlook weighed on sentiment and lower domestic prices made imports less attractive.
Imports of unwrought copper and products slumped to 361,000 tons tons in May, down 23 percent from a year earlier and 11 percent lower than April, according to China’s General Administration of Customs. Copper concentrate imports rose to 1.84 million tons, the highest since February and up 17 percent from a year earlier.
The International Monetary Fund this month trimmed
its forecasts for economic growth in China, and said the trade war with the US is tilting the balance of risks to the downside. The Asian nation is the world’s biggest copper buyer and the metal is often considered a barometer of economic activity.