China's Rare-Earth Magnet Surge: A Post-Agreement Export Boom

China's exports of rare-earth magnets in November hit the second-highest level on record post a U.S.-China agreement, reaching 6,150 metric tons. This marked a recovery from restrictions during the trade war. Notably, exports to the U.S. saw a decline, while Japan witnessed a significant increase.

China's exports of rare-earth magnets soared to the second-highest level in November after a pivotal agreement between the U.S. and China aimed at streamlining the shipment of these essential elements.

According to customs data released on Saturday, exports in November reached 6,150 metric tons, marking a 12% rise from October and maintaining momentum since hitting a record 6,357 tons in January. This boost reflects recovery following export restrictions implemented by China amid the trade war initiated by the U.S. under President Donald Trump.

The recent summit between Trump and Chinese leader Xi Jinping saw a rollback of tariffs on Chinese goods, facilitating the flow of rare-earth exports. However, while exports to the U.S. decreased by 11% compared to the previous month, Japan's imports rose significantly, underlining shifting diplomatic influences.

(With inputs from agencies.)