In total, China exported 3,188 tons of rare earth permanent magnets last month, up 157.5% from 1,238 tons in May, although the June volume was still 38.1% lower than the corresponding month in 2024. Shipments of magnets are likely to recover further in July as more exporters obtained licences in June, analysts said.

Following talks with the US thought to include reductions in critical mineral export restrictions, China reports 60 per cent jump in June shipments.

Despite a detente on China’s restrictions on the critical manufacturing inputs, shipments remain far below last year’s levels.