China's exports of rare earth metals totaled 2,117 tons in May, down 61% from the same period last year. This indicator was the lowest in the last five years.
The main reason for the decline in supplies is called the export restrictions imposed by Beijing. They affected both raw materials and products with a high degree of processing, including magnets and alloys based on rare earth elements.
Global market attention is focused on the dynamics of exports in June. The situation is under the control of the US and Chinese authorities, especially after recent talks between representatives of the two countries. The meeting discussed the terms of delivery of strategically important materials. During the talks, a statement was made that China is ready to provide "a full supply of magnets and any necessary rare earth metals at once."
Rare earth metals, including neodymium and dysprosium, are used in high-tech industries such as electronics, electric vehicles, and the defense industry. Their exports have traditionally been a sensitive element of the global supply chain.
