China's Rare Earth Exports Slump as Magnet Sales Curbed

China Produces About 90% of the World's So-Called Permanent Rare Earth Magnets from minerals and metals—is typically dominated by magnets. Exports had already fallen sharply in April. China produces about 90% of

- Bloomberg

China's exports of rare earth products—including powerful magnets now at the heart of tensions with the US—slumped to a fresh five-year low in May as Beijing's export curbs choked flows.

The data for last month shows the extent to which export controls in place since early April had curbed shipments, before a US-China meeting to resolve the restrictions. A shortage of vital magnets has threatened industries including car making from the US to Europe and India.