China’s Rare Earth Exports to the US Climb to Highest Levels in Three Years

According to customs data, China's rare earth magnets' exports to the US climbed to the highest in around three years during August.

Rare Earth Exports

According to customs data, China’s rare earth magnets’ exports to the US climbed to the highest in around three years during August. While higher exports figures look good at first glance, markets also remain concerned whether this is a result of increased stockpiling by the US over escalated trade tensions between the two countries.

Shipments of rare earth magnets grew by 1.2% MoM in August to touch 452 tons. August’s exports were 6.2% higher than the corresponding period a year ago and the highest figure recorded since January 2017. Overall shipments so far this year have also climbed 23.8% higher YoY to 2,984 tons.

China exported a total of 4,325 tons of rare earths during August, 17% lesser than the amount it exported during the previous month. As the trade war escalated between the US and China, China had previously hinted at halting rare earth shipments to the US, which could have had a severe impact on American hi-tech companies.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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