China's rare earth exports climb 23% in May ahead of trade talks with the U.S.

[Workers having discussion against cargo containers]
Portra

Chinese exports of rare earths—17 key minerals at the heart of trade tensions with Washington—rose 23% in May compared to the previous month, customs data showed Monday.

May shipments totaled 5,865 tons—still below last year’s level—but the monthly surge lifted year-to-date exports by 2.3% to 24,827 tons.

The figures exclude rare earth products such as high-value magnets used in electric motors and hard drives. Data released last month showed magnet exports fell by half in April.

Rare earths will be a key focus when negotiators from the world’s two largest economies meet in London later today to ease tensions.

China on Saturday approved a certain number of export license applications for rare earth-related metals — critical components used in the manufacturing of automobiles, semiconductors, mobile phones, and a host of other industries.

This decision came after Trump said Chinese President Xi Jinping had agreed to resume the flow of these vital materials.

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