China rare-earth magnet maker gets green light for US exports
A major Chinese manufacturer of rare-earth magnets received export permits to countries including the US, in a possible sign of easing tensions between Beijing and Washington. JL Mag Rare-Earth Co. said that officials approved a certain number of export applications, and the company had permits for regions including the US, Europe and Southeast Asia, according to a statement on Wednesday. Its Hong Kong-listed shares surged as much as 12%, hitting the highest intraday level since 2022.
A major Chinese manufacturer of rare-earth magnets received export permits to countries including the US, in a possible sign of easing tensions between Beijing and Washington.
JL Mag Rare-Earth Co. said that officials approved a certain number of export applications, and the company had permits for regions including the US, Europe and Southeast Asia, according to a statement on Wednesday. Its Hong Kong-listed shares surged as much as 12%, hitting the highest intraday level since 2022.
