China likely to cut rare metal exports quota 2-3% per year

14:26, November 03, 2010      

Email | Print | Subscribe | Comments | Forum 

China Securities Journal today quoted an unidentified source from China's Ministry of Commerce who said that the country's rare metal export quota will be cut by 2 percent to 3 percent annually.

The export quota for rare earth products, which are of more strategic significance, will be also be cut and most likely to a greater degree, the source said.

The Ministry of Commerce on Oct. 29 released the "Aggregate Export Quotas for Agricultural and Industrial Products for 2011" on Oct. 29.

Compared to the export quotas for 2010, the export quotas for most industrial products for 2011 are generally equivalent to that of 2010, with the aggregate export quotas for tungsten, stibium, silver and talc on a moderate rise and the quotas of tin and light and dead-burned magnesium on a moderate decline.

"The export quotas for rare metals will unlikely rebound in the future," said an industry insider, who helped draft related policies, during an interview with China Securities Journal.

The source said because it takes time for rare metal exporters to adapt to the changes, and a one-time drastic drop in export quotas will seriously affect the operations of the exporters, the annual average decline rate in the rare metal export quota is set between 2 and 3 percent. However, the decline rate in the export quotas for rare earth products is quite likely to be higher than that of other rare metals.

By People's Daily Online


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Chinese Navy soldiers hold an evening party marking the upcoming 62nd National Day aboard Chinese Navy hospital ship "Peace Ark" in the Pacific on Sept. 28, 2011. The Chinese National Day falls on Oct. 1. (Xinhua/Zha Chunming)
  • Photo taken on Sept. 30, 2011 shows the crowd at the plaza of Beijing Railway Station in Beijing, capital of China. The railway transportation witnessed a travel peak with the approach of the seven-day National Day holidays on Friday. (Xinhua)
  • A man wearing high-heel shoes takes part in the 3rd annual Walk a Mile in Her Shoes, an event when men literally walk in women's shoes to raise awareness about ending violence against women, at Yonge-Dundas Square in Toronto, Canada, Sept. 29, 2011. (Xinhua/Zou Zheng)
  • Photo taken on Sept. 29, 2011 shows a cargo ship in danger on the sea near Zhuhai City, south China's Guangdong Province. Cargo ship Fangzhou 6 of Qingzhou of southwest China's Guangxi Zhuang Autonomous Region lost control after water stormed into its cabin due to Typhoon Nesat on the sea near Zhuhai Thursday, leaving 12 crew members in danger. Rescuers rushed to the ship and saved them by using a helicopter. (Xinhua)
  • Actress Gong Li poses for L'Officiel Magazine. (Xinhua Photo)
  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)
Hot Forum Discussion