One more death in Russian Transport Ministry after ex-minister’s reported suicide
Another Russian Transport Ministry official died on Monday. Andrey Korneichuk, 42, who worked for the Federal Agency for Rail Transport, passed away a...
China’s export restrictions on rare earths have bolstered its geopolitical hand but triggered steep losses and production cuts for its magnet manufacturers, already hit by weak domestic demand and shrinking overseas sales.
The export curbs, imposed in April in response to U.S. tariffs, slashed magnet exports by 75% in two months and forced several global automakers to pause production. While China dominates rare-earth magnet production, exports accounted for up to half of revenue for some major producers in 2024.
Baotou Rare Earth Products Exchange, a state-backed trading platform, said the restrictions had created a “crisis” for some manufacturers and warned that any recovery, even after a U.S.-China deal in late June to resume rare-earth flows, would take time to implement. Inventory has continued to build in warehouses.
“Their sales are now being squeezed from both ends – disrupted exports and flagging domestic demand,” said Ellie Saklatvala, head of metal pricing at Argus. “They have temporarily lost an important part of their customer base, with no certainty about when they will regain it.”
Two rare-earth magnet producers told Reuters that revenue is expected to fall this year, though they declined to be named due to the sensitivity of the issue. Small and medium-sized producers cut output by around 15% in April and May, a source familiar with the situation said.
The highly customised nature of many magnet products makes it difficult to reroute them into the domestic market, forcing producers to store unsold cargo while awaiting export licences.
Though listed firms such as Baotou Tianhe Magnetics Technology Co and Yantai Zhenghai Magnetics have acknowledged the risks, most of China’s magnet industry remains private, limiting visibility into the full impact. Analysts say recent share price rebounds may not reflect underlying challenges.
The controls echo previous Chinese export restrictions on other critical minerals such as germanium and antimony. Despite mainly civilian uses, exports of those materials have yet to fully recover, and similar delays are expected in the rare-earth sector.
David Abraham, a professor at Boise State University, said the increased paperwork and oversight introduced by China’s export licensing regime would have long-term effects. “In some sense, there's no going back,” he said, noting that the resulting pressure may drive consolidation in an already fragmented industry.
Analysts say further consolidation could suit Beijing’s broader strategy of reinforcing control over the supply chain while leveraging rare earths in geopolitical negotiations.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Italy plans to grant approximately 500,000 work visas to non-EU nationals between 2026 and 2028, as announced in a cabinet statement. The initiative aims to address labor shortages by expanding legal immigration pathways
Germany has summoned China’s ambassador to protest after a Chinese warship used a laser against a German surveillance aircraft operating in the Red Sea, Berlin said on Tuesday.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
At least 29 people are missing after a glacial flood destroyed the “Friendship Bridge” linking Nepal and China, disrupting trade and prompting cross-border rescue efforts.
Kazakhstan will seek to protect its national interests in talks with the United States after receiving notice of new import tariffs due to take effect from 1 August, its trade ministry said on Tuesday.
Another Russian Transport Ministry official died on Monday. Andrey Korneichuk, 42, who worked for the Federal Agency for Rail Transport, passed away amid news about the alleged suicide of former Russian Transport Minister Roman Starovoit.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment