On 20/7, China's General Administration of Customs reported that the country exported 3,188 tons of rare earth magnets globally in June, a 157% increase compared to May. The top importers in June were Germany, the US, Vietnam, South Korea, and Thailand. However, this figure is still 38% lower than the same period last year.

Last month, 353 tons of rare earth magnets were sold to the US. This represents a 660% surge from May, marking a strong recovery following a trade agreement between the two countries.

The June agreement addressed issues related to the sale of rare earth elements and magnets to the US. US chipmaker Nvidia plans to resume selling its H20 AI chips to China.

Workers at a rare earth mine in Jiangxi, China. Photo: Reuters

Workers at a rare earth mine in Jiangxi, China. Photo: Reuters

Analysts suggest that China's rare earth magnet exports may continue to rise in July as more companies receive export licenses. In the first half of 2025, exports of these magnets decreased by nearly 19% compared to last year, totaling 22,319 tons.

In April, Beijing announced tighter export controls on seven rare earth elements and related materials, including rare earth magnets, in response to import tariffs imposed by former US President Donald Trump. China is the world's largest producer of these magnets, accounting for over 90% of the global supply. The export restrictions disrupted supply chains in the automotive, aerospace, semiconductor, and defense industries worldwide.

Last month, Beijing indicated it would increase the issuance of export licenses for rare earth magnets. This concession followed a trade agreement reached between the US and China in early June aimed at easing trade tensions.

On 19/6, China's Ministry of Commerce stated it had approved "some" applications for rare earth exports, but did not disclose details. Recently, Chinese rare earth magnet producers like JL MAG Rare-Earth and Innuovo Technology announced they had received export licenses for certain customers.

Ha Thu (Reuters)