China, "source" of rare earth magnets - Exports reach six-month high in July
China's exports of rare earth magnets rose sharply in July, hitting a six-month high, data showed, suggesting trade in the minerals critical to electric cars has returned to levels seen before Beijing imposed export restrictions.
According to data released by the General Administration of Customs of China, exports rose by nearly 75% compared to June, reaching 5,577 metric tons, the highest amount in a single month since January. This volume was also 5.7% higher than in the same month last year, when 5,278 tons were exported.
The continued growth in exports came as China reached a series of deals with the United States and Europe to boost shipments and ease controls that were imposed in April in response to US tariffs.
Exports had fallen sharply in April and May due to lengthy procedures for obtaining export permits, disrupting global supply chains and forcing some automakers outside China to temporarily halt production due to a shortage of rare metals.
In terms of destination countries, Germany remained the main destination for shipments, with a quantity of 1,116 tons, an increase of 46% from the previous month. Exports to the United States also increased by 75.5%, reaching 619 tons, which is 4.8% more than in the same month of 2024.
In total, during the first seven months of this year, Chinese sales of rare earth magnets reached 27,897 tons, while the annual decline narrowed to 15% from 18.9% in the first half of the year.
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