China's rare earth magnet exports hit six-month high in July

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.