According to Korea Customs Service (KCS), Korea imported 282 tons of rare earths from China, last year, about 78 percent of 360 tons in total. This marks a 13 percent rise from a year ago.
The international price of rare earths was quoted $17.93 per kilogram in 2010 but it soared to $56.6 per kilogram in 2011 due to escalating demand from many countries and this caused Korea to source more from China’s rare earths, which are relatively cheaper ($51.69). The nation’s dependency on Chinese supplies of Magnesium also rose to 99.2 percent from 98.9 percent.
For full article see Maeil Business.