Exports of rare earth magnets from China declined again in October. According to data from the Chinese Customs Authority, 5,473 tons were shipped, down from 5,774 tons in September. The bulk of the shipments went to Germany, which accounted for 20 percent of total exports, followed by the USA, South Korea, Vietnam, and India, countries with strong or emerging automotive industries.
China’s Rare-Earth Magnet Exports in Recent Months
Exports of rare-earth magnets had already fallen significantly a few months ago after Beijing introduced export controls for certain rare-earth elements and products made from them. Many types of magnets contain raw materials covered by these regulations (such as dysprosium and terbium). Because customs codes do not differentiate by composition, the approval process for all rare-earth magnets has been delayed.
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