⚠️China’s rare earth magnet exports collapsed

China's rare earth exports are critical

Total China rare-earth magnet shipments fell 76% YoY in May, to 1,238 tons, the least since February 2020.

Exports to the US dropped 92% YoY to 46 tons, which was less than 1/10 of what was recorded in March.

The decline came before China had agreed to resume sending rare earths to American companies this month after US-China trade talks in London.

As a reminder, China produces ~90% of world’s rare earths, most of which are processed into magnets:

⚠️China dominates global rare earths supply

The world's dependence on China for rare earths is a major strategic vulnerability:

globalmarketsinvestor.beehiiv.com/p/china-dominates-global-rare-earths-supply

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What is a Mar-a-Lago Accord and how it could reshape the global financial system?

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