China has quietly tightened its rare earth magnet exports in September, contrarian to its commitments to America made in May.

Starting from September, rare earth magnet manufacturers in China will face stricter export checks before the government implemented broader restrictions last week. According to industry sources, export applications are now often returned with requests for additional information, lengthening the process, although most are still approved within the 45-day timeframe.

This tightening raises concerns about China's intentions, contrary to the May agreement aimed at reducing trade tensions with the U.S. Export figures show a 31% decrease in September. These materials are crucial for electric vehicles, wind turbines, and military technology, and China still maintains strict control. Following the new restrictions, foreign companies are rushing to place orders before November 8, while shares of rare earth mining companies in the U.S. have surged, with some codes rising over 37%.