China’s rare exports to the U.S. surge by 21.7% to 477T in October 2019

Data from China’s General Administration of Customs data showed, exports of rare earth magnets to the United States have surged by 21.7% month on month to 477 tonnes in October 2019, to touch their highest level since 2016.

U.S.-bound shipments of the magnets, which are widely used in medical devices, consumer electronics and defense, were also up by 55.9%.

In May 2019, China, the world’s biggest producer of rare earth magnets, had raised the prospect of restricting the supply of rare earth products in its trade war with the U.S.; however since then it has raised annual output quotas to record highs.

The export of rare earth to all countries came in at around 3,091 tonnes in October 2019, up by 5.4% from the previous month and up by 22.9% year on year.

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