China’s exports of rare-earth products edged lower in October from a month earlier, as Beijing and Washington continue to hash out details of supply arrangements under their trade truce.

Outbound shipments of the materials used in electric vehicles, weapons and high-tech manufacturing dropped to 6,173 tons, the lowest level since June, according to customs data released on Tuesday (Nov 18). This category is typically dominated by rare-earth magnets, the industrial components that played a pivotal role for China in facing down America’s trade offensive.

The US and China are still fleshing out details of a trade truce clinched by Presidents Xi Jinping and Donald Trump in Seoul in late October. The two sides have given their negotiators until end-November to agree on supply terms for US-bound rare earths, according to people familiar with the matter.

Beijing slapped export controls on a clutch of rare earths on April 4 that triggered months of supply disruptions — particularly for magnets — and left global industries at risk of production disruptions. Under the trade truce, Beijing agreed a one-year pause on even tighter rare-earth restrictions, while pledging to offer “general licenses” for materials already under export controls, the White House has said.

The Chinese export figures released on Tuesday cover products shipped to all destinations, and don’t break down the numbers by geography or type of product. More detailed information should be available in another batch of data due on Thursday.

Source: Bloomberg

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