China's rare earth exports to US are stabilizing: China’s total export volumes of rare-earth magnets fell -11% MoM in November, to 582 tonnes, bringing total 2025 shipments to 5,378 tonnes. Shipments over the last 2 months have been in line with the monthly average recorded in 2024. By comparison, in April and May, magnet supplies to the US were below 300 tonnes COMBINED after China imposed export restrictions in April. Still, China continues to restrict certain rare-earth elements needed by the US, despite a deal to lift restrictions, according to Bloomberg. Overall, China’s exports of rare-earth elements and related products, including magnets, jumped +13% MoM in November. China remains the global leader in the industry, producing ~69% of rare-earth minerals and processing ~90% of global supply. Key rare earth supply flows from China are gradually normalizing.

2025 was a golden year for China... literally