The analysis of customs statistics shows that the monthly export volume of China's rare earth permanent magnets has increased year by year, and the growth rate has declined slightly. In the past two years, the growth rate has increased again, and overseas demand has grown steadily.

In January 2022, China's rare earth permanent magnet export volume hit a record and then fluctuated. By May 2022, China's rare earth permanent magnet exports have risen to a high level, and exports to the United States have also remained high, that is, more than 600 tons.

Specifically, in May 2022, China exported 4,876 tons of rare earth permanent magnets, a year-on-year increase of 15.6%, a continuous increase, but the rate decreased; exports to the United States were 626.5 tons, a year-on-year decrease of 4.8%.

Chart: May (2019-2022) China's rare earth permanent magnet exports to the United States and year-on-year

Trend analysis shows that China's exports of rare earth permanent magnets to the United States fluctuated upwards. During the period, due to the periodic impact of the epidemic and trade frictions, they rose (increased) and plummeted (decreased), but the general trend showed a relatively large increase.

The trend of export value is the same, and the increase is larger relative to export volume. The export volume in May 2022 is 1.45 times that of 2019, while the export value is 2.65 times that of 2019 and 1.2 times higher than the export volume.

To a large extent, it is reflected in the large current demand, or even in short supply, so the price has risen sharply.