China's rare earth exports jump in June in sign of trade war relief
BEIJING - China's rare earths exports rose 32% in June from the month before, customs data showed on Monday, in a potential sign that agreements reached last month to free up the flow of the metals are bearing fruit.
The U.S. and China reached a series of agreements in June to get rare earths flowing again after export controls imposed by Beijing in April during the height of its trade war with Washington shuttered some car factories around the world.
China's foreign minister said recently Europe's normal rare earths demand could be met. Meanwhile some carmakers said late last month the elements were starting to flow again, although not freely.
The world's largest producer of rare earths, a group of 17 minerals used in products vital for autos, consumer electronics and defence, exported 7 742.2 metric tons in June, up from 5 864.6 in May, data from the General Administration of Customs showed.
Exports were 60% higher than the 4 829 tons exported in June 2024. Cumulatively over the first six months of this year, China exported 32,569.2 tons of rare earths versus 29 095.2 tons over the same period last year, customs data showed.
While positive, the data is only suggestive. Monday's data does not distinguish between the various types of rare earths and related products, some of which are not covered by the controls. A fuller breakdown will be released on July 20.
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