US EditionAuto companies 'in full panic' over rare-earths bottleneck
- Auto executives scrambled on Monday to find backup sources as Chinese export controls on rare-earth magnets disrupted supply chains.
- The shortage resulted from China's export curbs and a new mandatory online tracking system requiring producers to report trading volumes and clients.
- Rare-Earth magnets, of which China produces about 90%, are vital for car components, prompting U.S. suppliers to urge the administration to address export restrictions.
- President Trump said on June 5 that Chinese leader Xi Jinping approved resuming exports, while the White House emphasized restoring flows to pre-April levels.
- With some factories facing mid-July shutdowns without magnets, the industry seeks alternatives amid a fragile U.S.-China truce and efforts to reduce dependence on China.
40 Articles
40 Articles
Commodity dealers are currently the most sought-after interlocutors in the automotive industry. They are supposed to supply rare earths without which production is not possible. It is often only a few hundred grams.
India Building Alternative Supply Chain on Rare Earth Amid Curbs by China: Piyush Goyal
Get latest articles and stories on Business at LatestLY. Commerce and Industry Minister Piyush Goyal described China's rare earth export restrictions as a global "wake-up call" on Monday, emphasising that India is actively building alternative supply chains while positioning itself as a trusted partner for international businesses seeking to reduce their dependence on Chinese suppliers Business News | India Building Alternative Supply Chain on R…
Auto Companies ‘in Full Panic’ Over Rare-Earths Bottleneck
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