China’s rare earth magnet exports to US decline in November

China’s exports of rare earth magnets to the US fell 11% in November from a month earlier, with no immediate rebound seen after a trade truce between the world’s two biggest economies.

Shipments to the US totaled about 582 tons, compared with 656 tons in October, according to Chinese customs data published on Saturday. The latest numbers followed a separate release Thursday that showed month-on-month growth in sales of all rare earth products, a category dominated by magnets.

Rare earth magnets, used in products ranging from electric vehicles to military equipment, proved to be one of China’s most potent weapons in the trade fight with the US this year. In April, Beijing implemented a new regime of export controls that threatened a damaging global shortage, and US-bound shipments plunged to less than 50 tons the following month.

While the year has been marked by repeated escalations and temporary truces, exports have since rebounded and have returned to more normal levels in recent months.

(By Jessica Zhou)