China’s Magnet Exports to EU Surge as Bloc Bears Brunt of Crunch

China’s exports of rare-earth magnets to the European Union surged in August, underscoring the bloc’s heavier reliance on Chinese supply compared with the US and its exposure to trade tensions between Washington and Beijing.

Shipments to the EU rose 21% from July to 2,582 tons, according to Chinese customs data on Saturday, taking year-to-date volumes to more than three times those of the US. In contrast, exports to the US fell 5% on-month to 590 tons.