China’s rare earth magnet exports to US rise despite trade war threats
- Chinese producers have threatened to restrict sales to the United States but last months customs data shows sales to the US increased last month
Chinese exports of rare earth magnets to the United States rose last month, customs figures show, despite a threat to restrict supplies as part of the ongoing trade war.
China is the world’s dominant producer of rare earth magnets, which are widely used in medical devices and consumer electronics as well as defence.
It has previously threatened to restrict the rare earth supply to the United States, although no formal measures have been announced.
Shipments of rare earth magnets totalled 447 tonnes last month, according to data from the General Administration of Customs released on Sunday. That compared with 414 tonnes in June and 356 tonnes in July 2018.
Another key rare earth product for the United States is lanthanum, which is used in the oil-refining industry. Exports of lanthanum oxide stood at 966 tonnes in July, the customs data showed.