BEIJING (Reuters) -China’s exports of rare earth magnets hit a six-month high in July, marking a persistent recovery in the flow of critical minerals used in electric vehicles and wind turbines after a Sino-U.S. trade deal.
Exports in July from the world’s largest rare earth magnet supplier rose nearly 75% from June to 5,577 metric tons, rising for a second straight month and the highest for a single month since January, data from the General Administration of Customs showed on Wednesday.
Top three export destinations last month were Germany, the United States and Vietnam, the data showed.
(Reporting by Amy Lv and Lewis Jackson; Editing by Himani Sarkar)
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