BREAKING: China’s total export volumes of rare-earth magnets fell -74% year-over-year in May, the biggest monthly decline on record. This comes after a -45% drop seen in April. Total rare-earth magnet exports reached 1.2 million kilograms last month, the least since February 2020. Furthermore, exports to the US dropped -93%, to ~46,000 kilograms, following a -59% plunge in April. China mines ~69% global rare-earth minerals and processes ~90% of global supply. China's rare earth exports are a critical part of the trade war.