China’s Global Exports of Rare Earth Elements and Rare Earth Permanent Magnets

The key to understanding the global impact of China’s sweeping new export controls on rare earths and equipment lies in tracking the trade patterns for rare earths and magnets that preceded China’s October 9 measures.

The measures include new license requirements for five additional rare earths (holmium, erbium, thulium, europium, and ytterbium) and for downstream products such as magnets. China also extended licensing requirements to overseas producers of certain products that use Chinese inputs of rare earths or rare earth processing equipment and banned exports to certain end users.

Silverado Policy Accelerator’s updated dashboard on China’s rare earth exports through September 2025 shows the impact of the April 2025 export restrictions—offering an essential baseline for understanding what may follow under China’s October 9 measures.

Key Findings on Rare Earth Metals and Compounds

• China’s global exports of rare earth compounds and metals in tariff lines fully covered by Chinese export controls declined from August to September, continuing the pattern of weak exports since the start of China’s export controls in April 2025.
• In addition, exports are only going to a limited number of countries, with ZERO exports in fully covered tariff lines to the United States since April.

Key Findings on Rare Earth Magnets

• China’s global exports of rare earth permanent magnets remained high in September compared to historical levels.
• However, the volume and share of exports to the United States declined both compared to the prior month and the level of exports in September 2024.