Chinese rare earth exports collapsed 74% YoY in May

Analysis of export data by The Wall Street Journal has revealed that China's rare earth magnet exports plummeted 74% year-on-year (YoY) in May to 1,238 tonnes—the lowest level since February 2020, following Beijing's implementation of export controls targeting critical automotive and defence industry materials. A fall of 52.9% was also recorded against the previous month, as Beijing’s implementation of rare earth export controls continues to rock the global industry.