Old 11-21-2014, 01:16 AM
Sparty Sparty is offline
Join Date: Mar 2009
Posts: 1,128
Default China REE imports value up by ~86%

Great news for our ASX rare earth companies: China's response to their increasing imports for heavy and light REEs is to levy a new resource tax of up to 35% on their in-country sales value. This is likely to increase their producers costs and result in significantly improved prices.

China's imports of REE has risen dramatically and gives credence to my posts re China being somewhat poor in REE resources per capita as compared to countries like Australia.

As noted by Investorintel: "The latest data from China Customs revealed that the country imported 2401.3 tons of rare earth (excluding rare earth metal ore, Customs HS Code: 25309020) in the first 9 months this year. Increasing 1.5% from a year earlier, the import value was US$51.06 million, which marked an increase of 85.9% from a year ago. Included in this number were the imports of 711.18 tons of various rare earth oxides. The various rare earth salts were 1673.26 tons and the rare earth metals and rare earth alloys were 12.74 tons, along with 4.09 tons of rare earth flints. China's rare earth imports is likely to continue to grow in the near future, driven by the country's higher rare earth resources tax." - See more at:
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