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China Magnet Exports to US Slip Even as Overall Shipments Rise
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China's rare earth magnet exports increased for the third consecutive month in August, reaching a seven-month high, but shipments to the US continued to decline. The US is accelerating the development of its domestic supply chain, and Europe's first rare earth magnet plant has begun production in Estonia, demonstrating that both Europe and the US are striving to break free from their dependence on China.
Shipments of rare-earth magnets from China to the United States fell in August, while overall exports rose after Beijing eased restrictions, Bloomberg reported. Meanwhile, the world's largest rare-earth magnet factory outside China opened in Europe.
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