China's exports of rare earth magnets recovered to hit a six-month high in July, showing trade flows of the critical minerals key to electric vehicles have returned to levels seen before Beijing imposed export curbs.

The General Administration of Customs revealed that China’s exports of rare earth magnets reached a six-month high of 5,577 metric tons in July. According to the report, last month’s exports were 75% higher than the previous month’s shipments.

China's chokehold on rare earths has hit home with US President Donald Trump's trade wars. When Beijing restricted exports, a powerful bargaining chip in tariff negotiations, it sent manufacturers around the world into their war rooms. China, they realised with alarm, had the power to stop their factories.