Reuters reported that China's export of rare earth magnets to the United States in June reached 353 tons, surging 660% from May.

Reuters reported, citing data released by China's General Administration of Customs on the 20th, that the world's largest producer of rare earth magnets saw its exports to the U.S. surge to 353 tons in June, an increase of 660% compared to May. (Xinhua)

After the U.S.-China trade agreement was reached, China's exports of rare earth magnets to the U.S. surged more than seven times the level of May, marking a significant recovery in the export of key minerals required for electric vehicles and wind turbines.

Previously, China and the U.S. reached an agreement in June to resolve issues regarding the export of rare earth minerals and magnets to the U.S. As part of the agreement, chipmaker NVIDIA plans to resume selling its H20 AI chips to China.

China supplies over 90% of the world's rare earth magnets. In response to U.S. tariffs, China decided in early April to add several rare earth products to its export restriction list. Due to the long time required to obtain export licenses, shipments dropped significantly in April and May, disrupting global supply chains and forcing some automakers outside China to suspend parts of their production due to shortages of rare earth materials.

Although China's exports of rare earth permanent magnets to the global market in June still fell by 38.1% compared to the same period in 2024, the country exported a total of 3,188 tons of rare earth permanent magnets in June, a 157.5% increase from 1,238 tons in May.

Analysts said that with more exporters obtaining licenses in June, shipments of magnets may further increase in July. In the first half of 2025, exports of rare earth magnets fell by 18.9% year-on-year to 22,319 tons.

Original: https://www.toutiao.com/article/7529121210651689499/

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