China’s Rare Earth Exports Drop by 8% Amid Global Tensions
China, the world’s largest producer of rare earth elements, reported an 8% drop in exports during the first half of 2024. The decline is linked to heightened geopolitical tensions and stricter export controls implemented by the Chinese government. This reduction in supply has caused prices for rare earth elements to rise by nearly 15% globally, impacting industries reliant on these critical minerals.
Source: Bloomberg, Financial Times