Once again, rare earths dominated the headlines this week. Industry leader China released the latest trade data for this group of raw materials, which is partly subject to strict export controls. At least for the U.S. market, a loosening of these restrictions could be on the horizon—the details in our roundup.
China: Rare Earth Exports Decline in May
China’s General Administration of Customs released preliminary trade data for May, revealing a significant drop in the value of rare earth element exports. The total export value decreased by over 47% year-over-year, with a month-over-month decline of approximately 14% compared to April.
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Export Controls: U.S. and China Move Closer on Rare Earths
Will China soon resume larger shipments of rare earths and magnets to the U.S.? Although the recent export restrictions apply globally and have already caused production disruptions, the situation could potentially ease—at least in the U.S. market. According to media reports, government representatives from both countries agreed on Tuesday to relax the trade restriction.
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Platinum Rises to Four-Year High, Outperforms Gold Year-on-Year
Platinum hits a four-year high, outpacing gold with a 32% rise in the past twelve months. According to analysts, the rally is mainly driven by supply shortages and growing jewelry and investment demand. In addition, demand from the financial sector is also on the rise, with holdings in platinum-backed exchange-traded funds (ETFs) reaching a 10-month high.
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Raw Materials: Closer Cooperation Between Argentina and France
Argentina and France are seeking closer cooperation on critical raw materials. Javier Milei and his French counterpart Emmanuel Macron discussed a bilateral agreement aimed at boosting French investment and financing in the extraction of lithium and copper, as well as launching joint research projects focused on discovering new mineral deposits in Argentina.
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