Chinese exports of rare earth magnets to the us fell 3.9 per cent in June from the previous month, customs data showed on Saturday, as concerns continued that Beijing would restrict supplies of rare earth products as part of a trade war with the us.
The move came after President Donald Trump told the pentagon on Monday to find better ways to purchase samarium cobalt rare earth permanent-magnet materials used in special engines and warned that without adequate stockpiles, the us defence would suffer.
China's exports of permanent rare earth magnets to the United States, or other rare earth materials used to make permanent magnets, reached 414,000 kilograms, or 414 tons, last month, according to Chinese customs statistics, Reuters reported.That was down 3.9% from may.
That was down 3.9% from 431 tons in May and up 1.45% from a year earlier.The 431 tons in May was the highest monthly total since at least 2016
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