China’s Rare Earth Magnet Exports to US Decline
(MENAFN) The shipments of rare earth magnets from China to the United States sharply declined in September, ending several months of gradual recovery.
This downturn occurs as Washington intensifies efforts to develop alternative supply routes, while the two largest global economies face renewed trade disputes.
According to figures released Monday by China’s General Administration of Customs, exports fell by 28.7% month-over-month in September, reaching 420.5 tons. On a year-over-year basis, shipments also dropped by roughly 30%.
Following a short-lived rebound starting in June—when Beijing committed to accelerating rare earth export approvals during trade talks with US representatives in London—the export volumes of rare earth magnets experienced their second consecutive monthly decline in September.
China remains the predominant force in the worldwide rare earth market, accounting for over 90% of global production.
The United States has been actively attempting to reduce its reliance on these critical metals by seeking alternative sources.
Rare earth magnets are essential components for technologies spanning electronics, defense equipment, renewable energy solutions, and electric vehicles.
Earlier restrictions imposed by Beijing led to shortages and supply chain disruptions across various sectors this year.
Furthermore, data from Chinese customs indicates that total rare earth magnet shipments fell by 6.1% in September compared to the previous month.
In response, Washington has been striving to decrease its dependence on Chinese rare earth exports by investing in domestic producers and purchasing stakes in related enterprises.
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