National Business Daily reported that the volume of rare earth exports in Guangdong increased 1.6 times YoY to 1,336 tonnes in the first eight months of 2010 with the total value of exports rising 1.8 times to USD 18.46 million.

The rare earth export price rose 6.2%YoY to USD 14,000 per tonne.

Rare earth exports to Japan totaled 608.8 tonnes in the first eight months, with rare earth exports to US and European Union growing 5.6 times and 10.9 times during the same period.

Mr Li Xuerong an analyst at China Investment Consulting said sharp increases in the rare earth export price may stem from high overseas demand and the Ministry of Commerce recent reductions in the rare earth export quota.

(Sourced from National Business Daily)