China’s Rare Earth Export to Japan Almost Returns to Normal Condition

Tsutomu Murasaki, Director of nonferrous metals division of Ministry of Economy, Trade & Industry (METI), explained at a press conference on Tuesday the Ministry recognized Chinese rare earth export to Japan has almost recovered to the normal condition after 3-month tie-up since mid September. He explained METI confirmed newly applied export cargos of rare earths were smoothly approved by Chinese authority and normally shipped to Japan in a week.

Akihiro Ohata, Minister of Economy, Trade & Industry, has required improvement of Chinese rare earth shipment to Japan on diplomatic talks with Chinese government’s dignitaries.

METI implemented surveys to Japanese rare earth importers and consumers to investigate actual shipment conditions. Meanwhile, Mr. Ohata met with Chinese National Development & Reform Commissions’ Chairman Zhang Ping during Asia-Pacific Economic Cooperation (APEC) held in Yokohama and confirmed the export condition could improve in a short term.

After the meeting in mid November, Chinese rare earth shipment and the authority’s approval turned smoother. METI explained at a previous press conference on December 7 that the Ministry newly confirmed 10 shipment cases in addition to previous 11 cases.

METI recently announced the new governmental menu for stable rare earth supply under the situation. The Diet approved approximately 100 billion yen budget in fiscal 2010 for the provision menu.