Vietnam has replaced India to become China's fifth-largest buyer of rare earths

According to the Russian Satellite News Agency, in July this year, Vietnam surpassed India to become China's fifth-largest buyer of rare earth metals, while the United States dropped two places in the ranking due to a decrease in its import volume.

Just as it was a month ago, Japan remains at the top: its July purchases almost doubled, reaching $13.8 million. The Netherlands, with a more significant growth momentum, ranks second, with its imports increasing by 1.6 times in a month to $7.073 million. A month ago, this European country was ranked third.

In July, South Korea ranked third on the list of China's top buyers of rare earths, moving up one position. This neighboring country of China purchased rare earth metals from China worth 6.5 million US dollars, which was nearly three times the amount in June.

The United States dropped from the second position to the fourth position a month ago. Its purchase volume was 2.6 million US dollars, a decrease of 20%. Vietnam replaced India and ranked fifth. This was due to the fact that its import volume increased by more than twice, reaching 1.3 million US dollars. A month ago, Vietnam was only ranked tenth.

India's monthly purchase amount was 742,300 US dollars, a decrease of over 33%. It has dropped out of the top five buyers of Chinese rare earths and now ranks eighth.

Russia's ranking remained unchanged within a month. Although the import volume slightly decreased (amounting to 897,000 US dollars as of June, a drop of 6.6%), it still ranked sixth.