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China’s Rare Earth Magnet Shipments to U.S. Soar 660% in June

Export licenses cleared the way for June’s surge, leaving volumes short of 2024 levels.

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Samples of rare earth minerals from left, Cerium oxide, Bastnasite, Neodymium oxide and Lanthanum carbonate are on display during a tour of Molycorp's Mountain Pass Rare Earth facility in Mountain Pass, California June 29, 2015.  REUTERS/David Becker/File Photo
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Overview

  • Exports of rare earth permanent magnets to the United States rose to 353 metric tons in June, a 660% increase from May according to General Administration of Customs data.
  • Global shipments climbed 157.5% month-on-month to 3,188 tons in June but remained 38.1% below the same month last year.
  • The rebound followed a Geneva summit deal in June that eased China’s rare earth export controls and rolled back U.S. technology restrictions, including Nvidia’s plan to resume H20 AI chip sales to China.
  • Lengthy licensing delays in April and May had previously caused sharp shipment declines and disrupted production in the automotive and green technology sectors.
  • Analysts project further recovery in July as remaining license backlogs clear and governments push to diversify rare earth supply chains.