china may rare earth magnet exports to u.s. jump amid threat of restrictions
China\'s exports of rare earth magnets to the United States may have increased by more than 20% from last month, the highest level since at least 2016, according to data released by the General Administration of Customs on Tuesday, beijing sees restrictions on shipments as part of long-term trade.
Run the transaction line.
Rare earth magnets are widely used in medicine, consumer electronics, military and other fields. S.
On last August, President Donald Trump signed a defense policy bill banning the purchase of rare earth magnets from China for the 2019 fiscal year.
The most widely used type, known for its strength, is made with nd, one of 17 rare earth elements.
Customs data show that the permanent rare earth magnets exported to the United States last month (or materials that will be converted into permanent magnets) were 430,961 kg kilograms and about 431 tons. That was up 21.
5% per cent on 4 and April.
% From May 4, 2018.
This is also the highest monthly export figure recorded in the customs database in January 2017.
In 2018, China\'s total export of rare earth magnets to the United States was 1.
325 billion yuan ($192. 7 million)
In May 20, Chinese President Xi Jinping visited a rare earth magnet factory in Jiangxi province, sparking speculation that China\'s dominance in global rare earth production could be used as a weapon for China. U. S. trade war.
Since then, Beijing has said it is considering strengthening export controls on rare earths.
However, Ryan Castilloux, managing director of Adamas Intelligence, a consulting firm, said that a significant fluctuation in the number of exports was normal.
\"I won\'t doubt that some of them are stored, but there is nothing certain that can guide us in this direction,\" he said . \".
Another key rare earth element in the United States is la, which is used in the refining industry.
According to customs data, the export volume of la oxidation in Wuyi section is 534 tons. That was up 59.
4% of April and 14. 1% year-on-year.
At the same time, the export volume of lithium carbonate is 400.
64 tons down.
It was 3% per cent higher than in April, but more than double the 197 tons exported in May 2018.
According to data released earlier in June, China\'s overall rare earth exports may fluctuate sharply, down 16% from the previous month. ($1 = 6.
Tom Daley reports.
Editor David Evans)