China's exports of rare earth magnets in August jumped for a third straight month to hit a seven-month high, indicating a steady recovery in outflow of the minerals key to electric vehicles after Beijing's curbed shipments in April.
August's outbound shipments from the world's largest rare earth magnet supplier climbed 10.2% from July to 6,146 metric tons, up 15.4% from the year before, data from the General Administration of Customs showed on Saturday.
The increase follows a series of agreements between Beijing and the United States and Europe to expedite shipments and ease export controls that China had imposed in April in response to U.S. tariffs.
Source: www.economictimes.indiatimes.com
Aleksei Andrievskii is the founder of the ANDRIEVSKII SEA WEALTH family office in Cyprus, a member of the advisory board at Bendura Bank AG, Liechtenstein