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China's exports of rare earth magnets to the US surge in June

China's exports of rare earth magnets to the US surge in June

BEIJING: China's exports of rare earth magnets to the United States in June soared to more than seven times their May level, marking a sharp recovery in the flow of critical minerals used in electric vehicles and wind turbines after a Sino-US trade deal.
Outbound shipments to the United States from the world's largest producer of rare earth magnets surged to 353 metric tons in June, up 660 per cent from May, data from the General Administration of Customs showed on Sunday.
That came after pacts reached in June to resolve issues around shipments of rare earth minerals and magnets to the United States. Chipmaker Nvidia plans to resume sales of its H20 AI chips to China as part of the agreement.
China, which provides more than 90 per cent of the global supply of rare earth magnets, decided in early April to add several rare earth items to its export restriction list in retaliation for US tariffs.
The subsequent sharp fall in shipments in April and May, due to the lengthy time required to secure export licences, had upset the global supply chain, forcing some automakers outside China to halt partial production due to a rare earths shortage.
In total, China exported 3,188 tons of rare earth permanent magnets globally last month, up 157.5 per cent from 1,238 tons in May, although the June volume was still 38.1 per cent lower than the corresponding month in 2024.
Shipments of magnets are likely to recover further in July as more exporters obtained licences in June, analysts said.
During the first half of 2025, exports of rare earth magnets fell 18.9 per cent on the year to 22,319 tons.
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Asean News Headlines at 10pm on Sunday (July 27, 2025)
Asean News Headlines at 10pm on Sunday (July 27, 2025)

The Star

time3 hours ago

  • The Star

Asean News Headlines at 10pm on Sunday (July 27, 2025)

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US Treasury chief says trade talks with China to continue this week in Sweden
US Treasury chief says trade talks with China to continue this week in Sweden

The Star

time4 hours ago

  • The Star

US Treasury chief says trade talks with China to continue this week in Sweden

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PM Anwar to visit Indonesia for first annual consultation with Prabowo
PM Anwar to visit Indonesia for first annual consultation with Prabowo

Borneo Post

time5 hours ago

  • Borneo Post

PM Anwar to visit Indonesia for first annual consultation with Prabowo

Anwar (right) arrives at Halim Perdanakusuma International Airport and is greeted by the President of Indonesia, Prabowo Subianto. – Bernama photo JAKARTA (July 27): Prime Minister Datuk Seri Anwar Ibrahim will embark on a two-day working visit to Indonesia starting Monday to attend the 13th Annual Consultation with President Prabowo Subianto – the first such meeting between the two leaders. Anwar will be accompanied by Sarawak Premier Tan Sri Abang Johari Abang Openg; Sabah Chief Minister Datuk Seri Hajiji Noor; Foreign Minister Datuk Seri Mohamad Hasan; Home Affairs Minister Datuk Seri Saifuddin Nasution Ismail; Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz; Education Minister Fadhlina Sidek. 'This Annual Consultation represents the highest-level bilateral mechanism between Malaysia and Indonesia, aimed at reinforcing strategic and comprehensive cooperation,' Malaysian Ambassador to Indonesia Datuk Syed Mohamad Hasrin Tengku Hussin said during a media briefing here on Sunday. He said the Annual Consultation, convened alternately between the two countries since 2006, reflects the strong political commitment of both nations to enhance collaboration across a wide range of sectors, including trade and investment, defence and security, connectivity, food security and education. 'The leaders are expected to exchange views on regional and global issues of mutual interest,' he said, adding that a Joint Statement will be issued at the conclusion of the consultation. The previous consultation was held in 2017, making this a timely opportunity for both leaders to reaffirm their strategic partnership and explore new areas of cooperation in response to current regional and global challenges. Syed Mohamad Hasrin said the leaders will also witness the exchange of four Memoranda of Understanding (MoUs) in the areas of land border, health cooperation and information and communications technology. During the visit, he said the Prime Minister is also scheduled to visit the ASEAN Secretariat in Jakarta, at the invitation of the ASEAN Secretary-General, Dr Kao Kim Hourn. Anwar will also deliver a Policy Speech on ASEAN in the context of Malaysia's ASEAN Chairmanship in 2025, underscoring Malaysia's ongoing commitment to regional integration and community-building. In 2024, Indonesia ranked as Malaysia's sixth-largest global trading partner and the second largest within ASEAN. Bilateral trade increased by 4.5 per cent from RM111.21 billion (US$24.39 billion) in 2023 to RM116.29 billion (US$25.5 billion) in 2024. – Bernama anwar ibrahim bilateral relations indonesia Prabowo Subianto

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