Reported about 10 hours ago
China's shipments of rare earth magnets significantly reduced by 52.9% in May compared to April, reaching the lowest level in over five years following the imposition of export restrictions. Despite a commitment to expedite approval processes to alleviate trade tensions with the U.S., customs officials have become more cautious, particularly regarding rare earth magnets that fall under a single export code. Year-on-year shipments for May were down 74%, and overall exports from January to May have decreased by 14.5%, marking the lowest levels since 2021.
Source: YAHOO