In July, shipments of rare earth magnets from China to the US increased by 76% compared to June. About this reported Bloomberg agency.
“China shipped 619 tonnes of rare-earth permanent magnets to the US, up from a low of 46 tonnes in May. Rare-earth magnets are used in everything from cars to dishwashers to fighter jets, and have emerged as Beijing’s most powerful weapon in its trade war with Washington.” – the message says.
However, the total volume of US purchases this year remains lower due to a significant drop at the beginning of the year. For January-July, the average monthly deliveries turned out to be about 28% lower than the average for 2024.
Supply to other major importers is also being resumed. Thus, volumes to Japan increased by 76%, to Germany by 46%, and to India by 143%. The topic of rare earth metals has caused tension between India and China, despite the general warming of relations. Beijing said it would guarantee supplies to India.
It will be recalled that Nvidia and AMD have agreed to transfer 15% of revenues from the sale of chips in China to the US government as part of a special agreement with the Trump administration to obtain export licenses for the supply of semiconductors.
