Japan’s rare earth imports are decreasing rapidly. From January to April, the amount of rare earths imported from China by Japan decreased by approximately 70% from the same period of last year. In addition to Japanese companies having sufficient stocks, breakthroughs have been made in the development of "refined earth" technologies, so the use of rare earths is declining. Due to the drop in demand, the transaction prices for Japanese exports have also declined. The prices for the production of high-performance magnets are currently down by about 70% compared with the record high in July last year.
The rare earth removal technology is expected to be further popularized, and Japan has already had the possibility of suppressing the soaring prices of rare earths.
Japan's trade statistics show that from January to April this year, the amount of rare earth imports was 3,650 tons, which is 58% lower than the same period of last year. Among them, imports from China amounted to 1,894 tons, a sharp drop of 69% year-on-year. In the total amount of imports, the year-on-year decline for the fifth consecutive month. From a single month's data, in 2011 compared with 2010, although imports increased in some months, this year it shows a monthly decline.
The trading price of rare earths also continued to show a downward trend. At present, the price per kilogram is about US$150, which is 14% lower than the previous month (on a quarterly basis). The price per kilogram is about US$1,100, which is a drop of 15% from the previous quarter. Compared with the highest price in July last year, they both dropped by about 70%. Crucibles used for the production of abrasives and catalysts were nearly US$20 per kilogram, a drop of US$1 to US$2. The reason for the decline in import volume and price decline is that Japan has made progress in its “demineralization†technology.
In the field of high-performance magnets made of rare earths, Shin-Etsu Chemical Co., Ltd., which has a global market share of 2 to 3 percent, has introduced a production technology that drastically reduces the amount of niobium used in the production of magnets for motors. In the field of air-conditioning magnets, it has gradually been used. Only half of the original product will be adopted by the spring next year. Inventory of rare earths is also rising, resulting in a substantial drop in purchases.
There has also been an increase in the number of Japanese companies that use magnets to abandon the use of metal magnets and resume the use of conventional ferrite magnets. In addition, various magnet companies in Japan are also actively developing new types of metal magnets that reduce the use of rare earths, and are expected to be put into use in the future.
A Japanese trading company said that after the fall of 2010, "automotive manufacturers began to require magnet manufacturers to ensure stable supply of rare earths and increase their stocks." However, due to the reduction in usage and the economic downturn, "the amount of trading between rare earth trading companies, alloy manufacturers, and magnet companies is decreasing."
Japanese companies are accelerating the diversification of rare earth procurement channels and the development and diffusion of rare earth technologies. For mines with relatively large reserves of rare earths such as Tantalum and Strontium, it is expected that U.S. and Australian mining companies will supply to Japan from this year.
High-performance magnets have so far required the addition of about 8% by weight of tantalum to improve the heat resistance, but Hitachi Metals has reduced the tantalum usage to 4% by effectively dispersing tantalum. The company strives to establish mass production technology by 2014.
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