China grants first rare earth export permits since adding restrictions last month - report ...Middle East

It is reported that there is at least four permits granted in this latest batch. Baotou Tianhe Magnetics is one of those suppliers who received a license for Volkswagen in late April. The supplier is one which makes the magnets used in electric and hybrid car motors. But the sources say that Volkswagen had reached out to Beijing for help in trying to make that happen.

Even if export controls fall short of an outright ban, it's safe to say that there is an unofficial ban for exporting to the US for the time being.

This article was written by Justin Low at www.forexlive.com.

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