China’s exports of some critical raw materials increased in July, while others declined. But only a look at the destination countries reveals what these figures mean for the supply situation.
Data from China’s customs authority show diverging trends in July’s exports of dysprosium and terbium. According to the statistics, exports of Dysprosium rose from nearly 2,100 kilograms in June to just over 11,300 kilograms, an increase of around 440%. The entire volume went to South Korea. Exports of Terbium by contrast, fell from 3,100 kilograms to approximately 1,300 kilograms, a decline of nearly 58%. South Korea was again the sole destination. This also illustrates why export volumes alone provide only limited insight into the supply situation: Major industrialized countries such as Japan continued to receive no shipments in July.
Brian Hendrich, Raw Materials Analyst at TRADIUM: “Dysprosium export volumes more than quintupled compared with the previous month, but that is not yet a sign of easing market conditions. Once again, China supplied dysprosium and terbium exclusively to South Korea, while neighboring Japan received nothing. This shows just how selectively access to these raw materials is being managed. As long as the entire export volume goes to only one country, there can be no talk of a stable and broadly accessible supply.”
China Export Control Monitor: In July 2026, exports of dysprosium, gallium and germanium increased once again. The volume of terbium exported fell, whilst exports of rare earth magnets remained at the previous month’s level.
Only Slight Decline in Magnet Exports
Exports of rare earth magnets declined slightly in July. China exported nearly 5,400 metric tons, down from just under 5,650 metric tons in June. This represents a decrease of just over 4%. Germany remained the largest destination, followed by the United States, South Korea, Vietnam, and India. The group of leading destinations was therefore virtually unchanged from June.
Gallium and Germanium Exports Recover
Following a weak June, China exported significantly more gallium and germanium in July. According to the customs authority, exports of Gallium rose from 200 kilograms to 7,200 kilograms. Germany received 7,000 kilograms, with the remaining 200 kilograms going to Malaysia. Germany thus remains the largest destination so far this year.
Exports of Germanium also increased, rising from 620 kilograms in June to nearly 1,500 kilograms in July. Russia was again the largest destination, receiving just under 850 kilograms, followed by Germany with just over 360 kilograms and Armenia with approximately 100 kilograms.
Dr. Christian Hell, Senior Manager Germanium & Minor Metals: “It has to be said: Russia has been receiving large volumes of germanium for months, while Germany gets a little from time to time. What is really interesting, however, are the very small shipments to Armenia, Morocco, and Turkey. These countries hardly fit the profile of traditional buyers. That does not necessarily mean that demand there has suddenly increased. Customs data initially show only the destination country, leaving open where the material is ultimately processed or consumed.”
Certain gallium and germanium products have been subject to export controls and licensing requirements in China since the summer of 2023. Since April 2025, dysprosium, terbium, and other rare earths have also been subject to similar restrictions. Monthly export volumes can therefore fluctuate significantly. These are also relatively small markets in which individual large shipments can have a noticeable impact on the statistics. For an assessment of the effects to date, see the TRADIUM blog post “Three Years of Export Controls: A Sobering Assessment of Gallium and Germanium" from earlier this month.
