China Oct rare earth magnet exports fall for a second month

BEIJING, Nov 20 (Reuters): China's rare earth magnet exports in October fell 5.2 per cent from a month earlier, customs data showed on Thursday, down for a second month, but shipments to the United States surged to a nine-month high.

Beijing announced earlier this month it would suspend the rare earth export control measures it announced on October 9 for one year as part of its pledge to Washington at a summit in Busan, South Korea, in late October to de-escalate their trade war. For October, outbound shipments from the world's largest producer and exporter of rare earth magnets, used in a wide array of technology from cars to weapons, were 5,473 metric tons last month, data from the General Administration of Customs showed.