China’s rare earth magnet exports surge to six-month peak
China’s exports of rare earth magnets rebounded sharply in July, reaching a six-month high as trade in these critical minerals—essential for electric vehicles—returns to pre-restriction levels.
Exports from the world's largest rare earth magnet supplier rose nearly 75% from June to hit the highest for a single month since January at 5,577 metric tons last month, data from the General Administration of Customs showed on Wednesday, News.Az reports, citing Reuters.
The July volume, which was in line with analysts' expectations, was also 5.7% higher than 5,278 tons shipped in the same month last year.
By country, Germany remained the No.1 export destination with a volume of 1,116 tons, up 46% from the prior month.
Outbound shipments to the United States last month also jumped by 75.5% from the month before to 619 tons, 4.8% higher than the same month in 2024.
In the first seven months of this year, China's exports of rare earth magnets totaled 27,897 tons, with the annual fall narrowing to 15% from 18.9% for the first half.
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