[SMMS Update: Rare Earth Permanent Magnets Exports Up 75% MoM in July] According to the latest information released by the General Administration of Customs, in July, the exports of rare earth permanent magnets reached 5,577.13 mt, a significant increase of 74.96% MoM from 3,187.76 mt in June. This was also the first YoY growth this year, up 5.66% compared to the same period last year. Notably, export demand from Germany and the US continued to rise, with Germany's imports increasing to 1,121.13 mt in July, up 47% MoM, accounting for 20% of the total monthly exports. The continuous increase in exports was due to the impact of export controls, leading to high stockpiling sentiment among overseas customers and a steady rise in export orders as approvals were granted.