BREAKING: China’s rare earth exports dropped -31% MoM in September, to 4,000 tonnes, the lowest since February. This marks the 3rd consecutive monthly decline. YTD exports have risen +13% YoY, but the data does not yet cover China’s newly expanded export controls introduced last week. China is a key supplier of global rare earths, mining ~70% and refining ~91% of the global supply. ~94% of rare earth magnets are produced in China, serving as key components in EVs, smartphones, military systems, and other high-tech industries. China’s rare earth exports are crucial to global tech.(The Kobeissi Letter)