China’s rare earth magnet exports to EU jump nearly 60% as approvals take effect

China’s exports of permanent magnets to the European Union saw a sharp rebound in November, as Beijing confirmed last week it has begun granting general licences with lengthier terms for overseas shipments of the materials, which contain valuable rare earth elements and are essential components in numerous hi-tech products. Last month’s total export volume of the magnets to the EU increased 59.5 per cent year on year to 2,568.8 tonnes, according to figures released on Saturday by China’s General...