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March 5, 2025
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4 minute read
Record rare earth magnet exports from China in 2024
In 2024, China exported a record 58,152 tonnes of rare earth permanent magnets and permanent magnet alloys (nearly all NdFeB, minor SmCo), 10% more than it exported the year prior according to data from China’s General Administration of Customs.
The top 10 importing countries last year were responsible for 73% of all imports from China, down from 74% in 2023 but up from 71% in 2022.
Through the first six months of 2024, exports were rising at an average of 2% year over year. In the second half of the year, this rate increased to 20% year over year. In the fourth quarter alone, growth averaged 24% year over year, helped by a 28% jump in December. A solid arc of growth.
