Foreign media focus on the sharp increase in China's rare earth magnet exports in June
"China's exports of rare earth magnets to the U.S. surged in June," Reuters reported on July 20, stating that China's exports of rare earth magnets to the U.S. soared to more than seven times that of May, marking a sharp rebound in the export of key minerals needed for electric vehicles and wind turbines after the U.S.-China trade agreement was reached.
The report cited data published by China Customs on July 20, which showed that China, the world's largest producer of rare earth magnets, exported 352.8 tons to the U.S. in June, a 660% increase from May. The Wall Street Journal also highlighted this data on July 20, noting that China's dominant position in the rare earth supply has proven to be a strong card in U.S.-China trade negotiations.
The report mentioned that China exported 3,188 tons of rare earth magnets globally in the previous month, up 157.5% from 1,238 tons in May, but down 38.1% compared to the same period last year. Analysts believe that with more exporters obtaining licenses in June, the shipment of rare earth magnets from China may further increase in July.
Source: Global Times
Author: Wu Ming
Original article: https://www.toutiao.com/article/1838215058646215/
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