CHINESE rare earth magnet producers are gradually resuming overseas shipments under a new export licence system, after Beijing tightened controls, reports Caixin.
Beijing ended mid-to-heavy rare earth exports in April - sending shockwaves through global supply chains and driving up prices in Europe and the United States.
Three leading Chinese rare earth magnet companies confirmed to Caixin that they had recently received export licences from the Ministry of Commerce, enabling them to resume shipments to customers in Europe and North America.
The approvals fall under China's 'one batch, one licence' rule, requiring separate permits for each shipment due to varying metal content.
Baotou Tianhe Magnetics Technology said it had received a batch of export licences in recent days after submitting the required documentation. Based in Inner Mongolia, Tianhe supplies high-performance magnets for electric vehicle (EV) components used by global brands such as Volkswagen, Bosch and Brose.
SeaNews Turkey
Beijing ended mid-to-heavy rare earth exports in April - sending shockwaves through global supply chains and driving up prices in Europe and the United States.
Three leading Chinese rare earth magnet companies confirmed to Caixin that they had recently received export licences from the Ministry of Commerce, enabling them to resume shipments to customers in Europe and North America.
The approvals fall under China's 'one batch, one licence' rule, requiring separate permits for each shipment due to varying metal content.
Baotou Tianhe Magnetics Technology said it had received a batch of export licences in recent days after submitting the required documentation. Based in Inner Mongolia, Tianhe supplies high-performance magnets for electric vehicle (EV) components used by global brands such as Volkswagen, Bosch and Brose.
SeaNews Turkey
