Japan Rare Earth Import Increases to 9,450t/y in 2006

Japanese rare earth import was annual 9,450 tonnes in 2006 increasing by 12.7% from 2005, according to trade statistics by Ministry of Finance. Demand of rare earth magnet has grown for hard disc drives and in-vehicle appliances for which neodymium or dysprosium is used. Demand of misch metal, which is used for hydrogen storage alloy, increased for nickel hydride batteries.Averaged unit price of Japanese rare earth imports jumped up by 65.2% to 1,827 yen per kilogram in 2006 from previous year due to supply concern and demand increase. China, the world largest rare earth producer, reduced allowances for its rare earth export volume by 10% in 2006 to reinforce national control on its rare earth resources. More than 90% of worldwide rare earth output concentrates in China. In May 2005 the government abolished tax return for its rare earth export and in November 2006 started 10% tax imposition on some rare earths.As to other rare earths, Japanese import increased by 86.9% to 11,489 tonnes for cerium in 2006 from previous year, which is used as abrasive for flat panel display. The import of yttrium increased by 30.8% to 1,603 tonnes, which is used for phosphor and optic lens. Lanthanum increased by 18.9% to 2,141 tonnes, applied to phosphor or ceramic capacitor.