Rare Earth crisis deepens: China’s shipments sink to five-year low; down 74% YoY in May

China’s rare earth magnet exports plummeted in May, hitting a five-year low due to new export restrictions and stricter customs scrutiny. This disruption has impacted global industries, including automotive and aerospace. While China aims to control strategic resources and ease trade tensions, customs delays and regulatory ambiguity persist, hindering shipments despite some export licenses being approved.