上海外贸新人报道

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On December 31, 2014 China’s Ministry of Commerce (MOFCOM) and the General Administration of Customs (GAC) jointly issued two announcements, effective January 1, 2015,according to which China has officially cancelled their policy on export quotas for rare earths, tungsten and molybdenum after losing the court case at WTO in August 2014.But instead,China implements export licensing system to control the rare earth market.

To cite the announcement from MOFCOM,“goods subject to the administration of export license include: rare earths, tungsten and molybdenum; Enterprises can apply for export licese for rare earths, tungsten and molybdenum against export contracts with out the the approval documents from the Ministry of Commerce.”

“Enerprises should apply to designated agencies for export license of rare earths and declare the exported items at specified port,which is to keep the operation in order.”MOFCOM stressed.

It is said that the cancellation of rare earth export quotas in 2015 by the Chinese government will have a limited impact on the global rare earth market, because it is tempered with new strict export licensing system and domestic production quota system.

The lastest data from the China Customs Statistics Information shows that China exported 24,826 tons of rare earth ore, metals and compounds in the first 11 months of 2014,a 24.75% rise year-on-year, but the export value declined 33.2% to US$341.1 million.

To promote and develop domestic market,China is expected to revise its policies or implement new policies to control its supply of rare earths.

The rare earth permanent magnet industry in 2015 sees a rapid growth, primarily driven by the green technology such as electric vehicle and energy efficient motor industries. In view of previous rare earth stockpiles in China the ongoing severe crackdown on illegal rare earths mining and exports,the price of rare earths is expected to go upward.