China’s rare earth exports swell in June as Beijing relaxes controls
Following talks with the US thought to include reductions in critical mineral export restrictions, China reports 60 per cent jump in June shipments
China’s rare earth exports surged in June to their highest level since December 2009, in what analysts said could be an early sign that recent behind-the-scenes agreements with the United States on the flow of critical minerals are beginning to bear fruit.
Exports of the elements reached 7,742.2 tonnes last month – a 60 per cent increase from the 4,828.7 tonnes recorded in June 2024 – and a 32 per cent jump compared to the 5,865 tonnes reported this May, according to customs data.
Hints of a thaw emerged in late June, when the Wall Street Journal reported that six-month export licences had been issued to select American manufacturers.
And last month, China’s Ministry of Commerce said it would improve how it handles export approvals for European countries and make it easier for their businesses to engage in legitimate trade.