China’s exports of rare earth magnets to the US surged in June, reaching 353 metric tons, a 660% increase from May. This follows agreements to resolve trade issues and marks a recovery in the supply chain for critical minerals used in electric vehicles and wind turbines.

China, the largest global producer of rare earth magnets, accounts for over 90% of the world’s supply. In April, it added rare earth items to its export restriction list in response to US tariffs, leading to disruptions in global supply chains and impacting automakers outside China.

Despite the recent surge in exports, China’s total shipments of rare earth permanent magnets in June were still 38.1% lower than the same month in 2024. However, analysts expect further recovery in July as more exporters secure licenses, following a 157.5% increase in shipments globally last month.

Overall, exports of rare earth magnets fell by 18.9% in the first half of 2025 compared to the previous year, highlighting the impact of trade tensions on the industry. Analysts anticipate continued growth in shipments in the coming months, bolstered by recent agreements and increased licensing for exporters.

Read more at Yahoo Finance: China’s exports of rare earth magnets to the US surge in June