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.