China sharply increased its exports of rare earth permanent magnets to the European Union in November, following Beijing’s move to grant broader and longer-term export licenses for the critical materials, according to official data.
Shipments to the EU rose nearly 60 percent year over year to about 2,569 tonnes, while export value climbed to roughly $106.9 million, figures from China’s General Administration of Customs showed.
China’s #rareearth #magnet exports to EU jump nearly 60% as approvals take effecthttps://t.co/2hByFxIC6w
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Exports also rose nearly 25 percent from October, signaling renewed momentum after earlier controls.
The surge contrasted with shipments to the United States, which fell nearly 9 percent in volume despite a modest increase in value. Overall, China’s global magnet exports rose more than 28 percent year over year in November.
EU rare-earth magnet imports from China rise 3% as dependence climbs to 94% pic.twitter.com/bY8B8IS9uk
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China dominates roughly 90 percent of the global rare earth magnet market, Morgan Stanley has noted, making supply diversification difficult.
Analysts at Gavekal Dragonomics have warned that US dependence on Chinese rare earths remains a strategic vulnerability, especially amid ongoing trade and technology tensions.
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