Rare Earth Trade Flows: From Mine to Magnet
Rare earth trade flows run mostly through China. Ore and concentrate travel to China for separation, and separated products and magnets travel out again to manufacturers around the world. The main routes below show where that pattern holds and where it is starting to change.
| From | To | Product | Why it matters |
|---|---|---|---|
| Myanmar, Laos | China | Heavy rare earth concentrates from ionic clays | Feed for Chinese separators; the main source of dysprosium and terbium. Conflict in Myanmar's Kachin State has disrupted shipments since late 2024. |
| United States | China (until 2025), now mostly domestic | Mountain Pass concentrate | MP Materials stopped shipping concentrate to China in April 2025 and is separating more at home. USGS data show US exports of rare earth compounds falling sharply in 2025. |
| Australia | Malaysia, then Japan and others | Mt Weld concentrate, then separated oxides | Lynas cracks concentrate in Western Australia and separates it in Malaysia. Japanese buyers take a large share of the NdPr through long-standing supply agreements. |
| China | Global | Separated oxides, metals and NdFeB magnets | China makes most of the world's rare earth magnets and exports them to car, electronics and wind turbine makers. Exports of controlled elements need licences since April 2025. |
The Three Stages of Rare Earth Trade
- Concentrate. Mines upgrade ore into a concentrate that is cheaper to ship. Most non-Chinese concentrate has gone to China for separation.
- Separated oxides and metals. Separators split concentrate into individual oxides, which are reduced to metals and alloys. China dominates both steps.
- Magnets and components. Magnet makers turn NdPr and heavy rare earth additives into NdFeB magnets, which are exported inside motors, electronics and turbines.
How Trade Flows Are Changing
- More processing outside China. MP Materials in the US, Lynas in Malaysia and new plants in Estonia, Australia and Korea are building separation, metal and magnet capacity outside China.
- Licensing slows Chinese exports. Since April 2025, exports of seven rare earths and magnets containing them need case-by-case licences, which has lengthened delivery times.
- Heavy rare earth feed is fragile. China relies on Myanmar and Laos for much of its heavy rare earth feed, so conflict or border closures there tighten supply for everyone.
Where to Find Trade Data
National customs statistics, such as China's General Administration of Customs and the US Census Bureau, publish monthly trade data by product code. The annual USGS Mineral Commodity Summaries summarise US imports and exports. Monthly Chinese export figures are widely reported and often move rare earth stocks.
Rare Earth Trade FAQ
Where do rare earths go after they are mined?
Most rare earths mined outside China have historically gone to China for separation, because China runs most of the world's separation plants. Lynas in Malaysia and MP Materials in the United States are the main exceptions.
Which countries import rare earth magnets from China?
Countries with large car, electronics and industrial manufacturing sectors, including Germany, the United States, South Korea, Japan, Vietnam and India, import most of their rare earth magnets from China.
How do export controls affect rare earth trade flows?
Export controls slow or reroute rare earth trade flows. After China required licences for seven rare earths in April 2025, some manufacturers outside China ran short of magnets while waiting for approvals.