China's exports of rare-earth magnets to the European Union rose 21 per cent in August to 2,582 tons, highlighting the bloc's growing reliance on Chinese supply amid ongoing trade tensions with Washington, reports Bloomberg.
Chinese customs data showed year-to-date shipments to the EU were more than triple those to the US, which saw a five per cent decline in August to 590 tons. Rare-earth magnets are critical for electric vehicles, wind turbines and defence systems.
Beijing's dominance in the global magnet market-controlling 90 per cent of output-has become a strategic lever in its trade standoff with Washington. A recent call between President Donald Trump and Chinese leader Xi Jinping signalled easing tensions, though concerns persist.
The EU's dependence has led to industrial disruptions. Seven production stoppages were recorded in August, with 46 more expected in September, according to the EU Chamber of Commerce in China.
Canadian firm Neo Performance Materials began operations at Europe's first large-scale rare-earth magnet plant in Estonia on Friday. The US$75 million facility is expected to produce 2,000 tons annually, far short of Europe's 22,000 ton demand.
China's control of 60 per cent of global rare-earth resources and 90 per cent of refining capacity has prompted countries to accelerate efforts to diversify supply chains. The Estonian plant may be the first of several aimed at reducing reliance on Chinese exports.
SeaNews Turkey
Chinese customs data showed year-to-date shipments to the EU were more than triple those to the US, which saw a five per cent decline in August to 590 tons. Rare-earth magnets are critical for electric vehicles, wind turbines and defence systems.
Beijing's dominance in the global magnet market-controlling 90 per cent of output-has become a strategic lever in its trade standoff with Washington. A recent call between President Donald Trump and Chinese leader Xi Jinping signalled easing tensions, though concerns persist.
The EU's dependence has led to industrial disruptions. Seven production stoppages were recorded in August, with 46 more expected in September, according to the EU Chamber of Commerce in China.
Canadian firm Neo Performance Materials began operations at Europe's first large-scale rare-earth magnet plant in Estonia on Friday. The US$75 million facility is expected to produce 2,000 tons annually, far short of Europe's 22,000 ton demand.
China's control of 60 per cent of global rare-earth resources and 90 per cent of refining capacity has prompted countries to accelerate efforts to diversify supply chains. The Estonian plant may be the first of several aimed at reducing reliance on Chinese exports.
SeaNews Turkey
