China's rare earth magnet exports rise 10.2% in August from July

China's exports of rare earth magnets in August jumped for a third straight month to hit a seven-month high, indicating a steady recovery in outflow of the minerals key to electric vehicles after Beijing's curbed shipments in April.

August's outbound shipments from the world's largest rare earth magnet supplier climbed 10.2% from July to 6,146 metric tons, up 15.4% from the year before, data from the General Administration of Customs showed on Saturday.

The increase follows a series of agreements between Beijing and the United States and Europe to expedite shipments and ease export controls that China had imposed in April in response to U.S. tariffs.


By country, however, exports of 590 tons to the United States were down 4.7% from the month before and down 11.8% from August last year.