Japan has a stable position and is still at the top of the list, with purchases almost doubled in July to as high as US$13.8 million. The Netherlands’ growth momentum was rapid, with imports growing 1.6 times in a month to $7.073 million, jumping from third a month ago to second place. South Korea rose one place to third, with rare earth metals purchased from China worth $6.5 million, nearly tripling in June.

It is worth noting that the US ranking has dropped sharply, falling from second place a month ago to fourth place, and purchases have dropped to US$2.6 million, a 20% decrease. Although China has previously resumed rare earth exports to the United States, the quantity is significantly limited and it is clearly prohibited from being used in the military field. This undoubtedly has had a significant impact on relevant industries in the United States and also reflects China’s firm position on rare earth export control.

Vietnam has become the “dark horse” in the changes in the list. Its imports have more than tripled to US$1.3 million, successfully replacing India and ranking fifth. You should know that Vietnam was only ranked tenth a month ago.

India ranks eighth in terms of purchases falling by more than 33%, down to US$742,300, leaving the top five buyers. Russia’s ranking remains sixth, despite a slight decline in imports, falling 6.6% to $897,000 as of June.

However, we need to remain vigilant about the sharp increase in Vietnam’s imports. The U.S.-Vietnam relations have been heating up in recent years, and cooperation in economic, military and other fields has become increasingly close. Previously, India had caused many problems due to reselling Chinese rare earths. We need to be careful that Vietnam repeats India’s mistakes and avoid becoming a “transfer station” for the United States to obtain Chinese rare earths.