Following the acceleration of licence approvals for the export of rare earth elements, China’s shipments of the minerals rebounded in June – and the proportion of its permanent magnets sent to the European Union rose to its highest level this year.
Last month, China exported 3,188 tonnes of rare earth permanent magnets – an essential component for a variety of products, including electric vehicles (EVs), wind turbines, smartphones and aerospace vessels. This represented a 157.5 per cent increase…