FX.co ★ China’s Rare Earth Exports Drop 6.1% MoM in September

China's exports of rare earth magnets experienced a 6.1% decrease in September 2025, amounting to 5,774 metric tons. This decline marked the end of a three-month period of growth prior to the government's introduction of expanded export controls in October, specifically targeting defense and semiconductor industry users. The September figures reflect a drop from the seven-month high of 6,146 tons recorded in August. The reduction in exports occurred amidst stricter scrutiny on export license applications faced by Chinese rare earth magnet companies starting in September. Nevertheless, when compared to September of the previous year, there was a 17.5% increase in shipments, as reported by the General Administration of Customs, which released the data on Monday. Germany, South Korea, Vietnam, the United States, and Mexico emerged as the top five destinations for Chinese rare earth magnets by volume in the past month. Meanwhile, the US has implemented a series of restrictions on exports to China and imposed tariffs on Chinese imports.