China Rare Earth and Magnet Exports 2023

Rare earth compounds (oxides, fluorides, chlorides, carbonates, etc.)


As rare earth compounds China exported 39,711 t in 2023, 340 t more than 2022 (+0.86%).

The value of China’s rare earth compound exports was US$519.9 mio in 2023 after US$670 mio in 2022, a decline of 22.4%.

60% of China’s rare earth compounds export volume were uneconomical lanthanum and cerium compounds. That is less than the usual 70%, because the 2023 export volume of cerium hydroxide fell off a cliff, minus 94%.

Only export of dysprosium oxide increased markedly by 41% to 192.6 t.

Rare earth compounds exports by destination:



2023 RE Exports by Quantity

2023 RE Exports by Value

Rare earth permanent magnet exports

Exports of rare earth permanent magnets, SmCo and NdFeb, were flat year on year.
China exported 52,660 t of rare earth permanent magnets in 2023, after 53,288 t in 2022. Export revenue for these magnets was US$3.2 billion after US$4.1 billion in 2022.

Rare earth permanent magnet exports to 5 of the top 20 destinations increased, 14 destinations saw a decrease in numbers.

Here the top 20 export destinations for China rare earth permanent magnets in metric tons for 2023 and the year on year change in percent:
  1. Germany 8,814 t +2.07% 🟢
  2. United States 7,339 t +15% 🟢
  3. Korea 5,965 t -5% 🔻
  4. Vietnam 3,415 t -14% 🔻
  5. France 3,091 t +141% 🟢
  6. Poland 2,464 t -4% 🔻
  7. Italy 2,325 t -21% 🔻
  8. India 1,911 t +30% 🟢
  9. Japan 1,844 t - unchanged -
  10. Thailand 1,579 t -30% 🔻
  11. Mexico 1,354 t -4% 🔻
  12. Taiwan 1,036 t -27% 🔻
  13. Russia 927 t -10% 🔻
  14. Denmark 856 t -39% 🔻
  15. Netherlands 851 t -30% 🔻
  16. Philippines 777 t -9% 🔻
  17. Turkey 698 t +50% 🟢
  18. Switzerland 589 t -27% 🔻
  19. United Kingdom 544 t -18% 🔻
  20. Malaysia 526 t -4% 🔻
One may argue, that negative 4-5% on relatively small quantities may well be the result of delayed shipments, not a necessarily a trend indicator.

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