Chinese exports of rare earth elements surged in June. According to the latest data from the customs authorities, exports increased by 32 percent compared to the previous month, reaching 7,742 metric tons. Compared to last year, exports remain at an elevated level.
Chinese rare earth exports over the last twelve months.
In April, Beijing imposed export controls for certain members of this group of elements, requiring licenses for the shipment of these elements. The lengthy approval process led to a complete halt in terbium exports in May, a critical element used in high-performance magnets for example.
It remains to be seen whether exports of the rare earths affected by the measures recovered in June. The increase observed in May was largely due to light rare earths, such as neodymium, which are not subject to trade restrictions. More detailed insights are expected in the coming weeks when customs authorities release more in-depth trade data.
Photo: Magnifier via Canva