China’s Rare Earth Magnet Exports to U.S. Skyrocket to 660 Percent
(MENAFN) Exports of rare earth magnets from China to the United States skyrocketed in June, surging more than sevenfold from the previous month, according to a report from media on Monday. The dramatic spike came as businesses raced to secure supplies of these critical minerals in the wake of a key trade breakthrough between Beijing and Washington.
Official figures from China’s General Administration of Customs show that 353 metric tons of rare earth permanent magnets were shipped to the U.S. in June—a staggering 660% increase from May.
However, despite the sharp month-on-month rise, the volume was still nearly 50% lower compared to June of last year, the customs data revealed.
In terms of global distribution, the United States was the second-largest destination for Chinese rare earth magnets in June, trailing only Germany.
Overall, China exported 3,188 metric tons of rare earth magnets worldwide in June—representing a month-over-month jump of about 158%. Still, that figure remained approximately 38% below the export levels seen in June 2024.
The surge in shipments followed a preliminary trade agreement reached last month between the U.S. and China. The deal loosened curbs on China’s rare earth exports and eased some American restrictions on technology-related exports to the Chinese market.
Just last week, chipmaker Nvidia confirmed it would restart sales of its H20 artificial intelligence (AI) chips to China after the U.S. government agreed to lift certain licensing constraints.
Back in April, Beijing enacted export controls on several crucial types of magnets used in advanced technologies such as wind turbines, electric vehicles, and MRI machines. These measures—requiring companies to obtain licenses—were implemented in response to U.S. tariff policies targeting China.
China remains the undisputed leader in rare earth production, responsible for over 90% of global supply, a dominance Washington has long sought to curb.
In a related development, tech giant Apple and mining firm MP Materials revealed plans last week to invest $500 million in a U.S.-based facility focused on recycling rare earth magnets—a move aimed at strengthening Apple’s domestic supply chain.
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