India's FY25 Magnet Imports See 2x Spike

INDIA'S IMPORTS OF permanent magnets — many containing rare earth elements (REEs) — nearly doubled to 53,700 tonne in FY25 from around 28,700 tonne the year before, according to official trade data.

- AGGAM WALIA

INDIA'S IMPORTS OF permanent magnets — many containing rare earth elements (REEs) — nearly doubled to 53,700 tonne in FY25 from around 28,700 tonne the year before, according to official trade data. The surge in imports, with 93% coming from China, preceded Beijing's April 4 export restrictions on rare earth magnets, which have since disrupted production lines globally. In India, with just 2–3 weeks of REE magnet supply remaining, industry executives are expected to travel to China in a bid to ease the shortage, sources stated.