AGL 40.27 Increased By ▲ 0.27 (0.68%)
AIRLINK 127.11 Increased By ▲ 0.07 (0.06%)
BOP 6.60 Decreased By ▼ -0.07 (-1.05%)
CNERGY 4.46 Decreased By ▼ -0.05 (-1.11%)
DCL 8.61 Increased By ▲ 0.06 (0.7%)
DFML 41.73 Increased By ▲ 0.29 (0.7%)
DGKC 87.40 Increased By ▲ 0.55 (0.63%)
FCCL 32.40 Increased By ▲ 0.12 (0.37%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.23 Decreased By ▼ -0.02 (-0.2%)
HUBC 109.39 Decreased By ▼ -0.18 (-0.16%)
HUMNL 14.65 Decreased By ▼ -0.03 (-0.2%)
KEL 5.06 Increased By ▲ 0.01 (0.2%)
KOSM 7.61 Increased By ▲ 0.15 (2.01%)
MLCF 41.40 Increased By ▲ 0.02 (0.05%)
NBP 59.51 Decreased By ▼ -0.90 (-1.49%)
OGDC 192.15 Increased By ▲ 2.05 (1.08%)
PAEL 28.15 Increased By ▲ 0.32 (1.15%)
PIBTL 7.76 Decreased By ▼ -0.07 (-0.89%)
PPL 150.60 Increased By ▲ 0.54 (0.36%)
PRL 26.20 Decreased By ▼ -0.68 (-2.53%)
PTC 16.11 Increased By ▲ 0.04 (0.25%)
SEARL 82.70 Decreased By ▼ -3.30 (-3.84%)
TELE 7.77 Increased By ▲ 0.06 (0.78%)
TOMCL 35.38 Decreased By ▼ -0.03 (-0.08%)
TPLP 8.08 Decreased By ▼ -0.04 (-0.49%)
TREET 16.00 Decreased By ▼ -0.41 (-2.5%)
TRG 53.17 Decreased By ▼ -0.12 (-0.23%)
UNITY 26.30 Increased By ▲ 0.14 (0.54%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,985 Increased By 101.4 (1.03%)
BR30 31,147 Increased By 547.3 (1.79%)
KSE100 94,183 Increased By 827.6 (0.89%)
KSE30 29,176 Increased By 245.1 (0.85%)

China's exports of rare earth magnets to the United States fell 3.9% in June from the previous month, customs data showed on Saturday, as concerns persist that Beijing will curb supply of rare earth products as part of its trade war with Washington.
The latest data came after US President Donald Trump on Monday told the Pentagon to find better ways to procure samarium-cobalt rare earth permanent magnets, used in specialty motors, warning that the country's defence would suffer without adequate stockpiles.
China is the world's dominant producer of rare earth magnets, which are widely used in medical devices and consumer electronics as well as defence, although Trump in August 2018 signed a policy bill banning their purchase from China for military use in the 2019 fiscal year.
China's exports to the United States of permanent rare earth magnets, or rare earth material that will be turned into permanent magnets, came in at 414,100 kg, or around 414 tonnes last month, the data from the General Administration of Customs showed.
That was down 3.9% from 431 tonnes in May, which was the highest monthly total since at least 2016, and up 1.45% year-on-year. David Merriman, manager of battery and electric vehicle materials at consultancy Roskill, said before the customs numbers came out the US Department of Defense's purchases of rare earth permanent magnets are "relatively minor" when compared to imports for electronic, automotive and other applications.
In terms of samarium-cobalt magnets, "the interesting trend has been the spikes in (US) imports from the Philippines and Malaysia, suggesting a move to greater imports from Japanese-owned manufacturers," he added, noting that Japan's Shin-Etsu has samarium-cobalt production facilities in both those Southeast Asian countries.

Copyright Reuters, 2019

Comments

Comments are closed.