Central Asia’s rare metal exports are on the rise, fueled by growing consumption in the European Union and China. China, the world’s largest importer, is responsible for up to 70% of the region's exports of rare earth metals.
While detailed statistics on rare earth metal exports remain scarce, Eldaniz Gusseinov, a columnist for Daryo and a Non-Resident Research Fellow at the Haydar Aliyev Center for Eurasian Studies, shared the analyzed figures related to the export of ore, slag, and ash, providing valuable insight into the trend.
The products in question, including metals like molybdenum, titanium, and vanadium, are in high demand globally, with leading economies seeking them for various industrial uses. According to Trademap.org, Central Asian countries exported a wide array of ores and concentrates between 2019 and 2023. These included copper, iron, zinc, lead, precious metals, molybdenum, chromium, and rare metals such as niobium and tantalum.
Notably, there has been a rise in the export of tin, tungsten, and titanium ores in recent years. Copper ore exports, in particular, have shown steady growth, increasing from approximately $1.17mn in 2019 to an estimated $3.15mn in 2023. However, iron ore exports saw a decline after reaching $1.6mn in 2021.
The most significant growth, however, has been in the export of molybdenum ore, which surged from around $4,000 in 2019 to approximately $144,000 in 2023. This increase reflects the growing global demand for the metal, driven by its use in high-performance alloys and as an essential component in the electronics industry.
A closer look at trade with the European Union reveals the standout role of molybdenum. Exports to the EU in the "ores, slag, and ash" category increased from roughly $11,000 in 2021 to nearly $60,000 in 2023. Kazakhstan, which plays a dominant role in the region's export market, provides nearly the entire export value of molybdenum, with other Central Asian countries contributing far less.
Gusseinov points out an interesting shift in the export composition of Central Asia, highlighting a move from traditional raw materials like copper and iron to higher-value rare ores, especially molybdenum. This evolving trend is visible not only in global markets but also in trade relations with the European Union, where Kazakhstan continues to be a leading supplier.
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