Authorities Simpose new export rules on earth metals, oxide products

China has instructed exporters to provide transaction reports for strategically vital rare earth metals and oxide products, according to an online notice posted on the website of the Ministry of Commerce on Tuesday.

Under the new rules, importers dealing in crude oil, iron ore, copper ore concentrates and potash fertilizer have been directed to report their orders and shipments to authorities.

These new requirements represent an update to the commodity reporting rules initially introduced by the National Bureau of Statistics in 2022. They are set to remain in effect for a two-year period, commencing on Oct 31.

Previously, a total of 14 imported items were subject to the reporting mechanism, including soybeans, infant formula milk powder, pork and sugar.