Prices of some rare earth metals have doubled in just three weeks amid heavy stockpiling in China that has raised fears over global supplies.一些稀土的价格已在短短三周内增加一倍。目前中国大举囤积稀土的行为令人担心全球供应。
China produces more than 90 per cent of the world’s rare earths, which refer to 17 elements used in hybrid cars, fluorescent lights and many high- technology applications.中国稀土产量占全球总产量的90%以上。稀土是17种元素的总称,它们用于混合动力汽车、荧光灯和许多高技术应用。
A recent crackdown by Beijing on rare earth mines and restrictions on exports have caused chaos in some of these markets.北京方面近期对稀土矿的整治以及对稀土出口的限制,已在其中一些稀土市场引发混乱。
Japan and the US, the world’s biggest importers of rare earths, have repeatedly voiced concerns to China, while complaints from industrial users of rare earths have been growing. Last year, China cut rare earth exports by 40 per cent and temporarily banned exports to Japan during a political dispute.日本和美国是全球两大稀土进口国,这两个国家已再三向中国表示关切,与此同时,工业界稀土用户的抱怨声越来越响亮。去年,中国将稀土出口减少40%,并在一起政治争端期间暂停对日本出口。
Rare earth prices have already been rising sharply this year, but the recent price spike has puzzled Chinese analysts, who blamed it largely on hoarding by companies who expect prices to rise further.今年稀土价格本来已经在快速上涨,但近期的井喷式涨价令中国分析师们困惑,他们在很大程度上将其归咎于预期价格将进一步上涨的企业囤积居奇。
Heavy rare earths have been the most affected. The price for terbium oxide, used in hybrid cars and sonar systems, has risen to Rmb20,000 ($3,000) per kilogramme from Rmb8,750 per kg less than three weeks ago.重稀土受到最大影响。用于混合动力汽车和声纳系统的氧化铽的价格已从不到三周前的每公斤8750元人民币,涨至每公斤2万元人民币(合3000美元)。
“It’s a bubble, it’s got to be, there is no end use that can stand that price,” one European trader of rare earths said.“这是一个泡沫,肯定是,没有哪一种最终用途能够承受那样的价位,”一名欧洲稀土交易员表示。
In recent testimony to Congress, General Electric, which uses rare earths for train engines, wind turbines and CAT scan equipment, urged Washington to take action to ensure domestic supplies of rare earths in the US.通用电气(GE)在铁路机车、风力发电机和CT扫描设备中采用稀土。该公司最近在美国国会作证时,敦促华盛顿方面采取行动,确保美国国内的稀土供应。
Some observers believe the US and EU may bring a case against China’s rare earth policies to the World Trade Organisation, which is reviewing Chinese export restrictions on other raw materials.一些观察人士认为,美国和欧盟可能针对中国的稀土政策在世界贸易组织(WTO)提起诉讼,世贸组织正在审议中国对其它原材料的出口限制。
Chinese officials said environmental concerns are the main driver behind a restructuring on the industry, which will close illegal mines and reduce output. China began a stockpiling programme last year that could eventually store up to 200,000 tonnes of rare earths, nearly twice the country’s annual production, analysts said.中国官员表示,环境忧虑是整治稀土产业的主要推动因素,整治行动将关闭非法稀土矿,降低产量。分析师们表示,中国在去年启动一个稀土储备计划,最终可能储备至多20万吨稀土,接近全国年产量的两倍。
Traders said that in recent weeks “hot money” and speculation have driven up prices of rare earths inside China, while transaction volumes have fallen.交易员们表示,近几周来“热钱”和投机行为推高了中国境内的稀土价格,同时交易量已有所下降。
Yin Jianhua, analyst at state-owned consultancy Antaike, said China’s biggest producer of rare earths sold only 1,000 tonnes of rare earth oxides in the first quarter of this year, compared with an annual output of more than 50,000 tonnes.国有咨询公司安泰科(Antaike)分析师殷建华表示,中国最大稀土生产商今年首季仅售出1000吨稀土氧化物,而该公司的年产量超过5万吨。
Beijing’s controls spurred global miners to accelerate rare earth production outside China and some analysts think the industry could be oversupplied in a few years time as a result.北京方面的出口限制推动全球矿商加速中国以外的稀土开采,一些分析师认为,该行业可能因此在几年后出现供过于求。