China's outbound shipments of rare earths in May jumped 23% on the month to their highest in a year, though Beijing's export curbs on some of the critical minerals halted some overseas sales, with shortages rippling through global manufacturing.

A tentative deal reached in London gives Beijing continued leverage in trade negotiations.

The latest US-China trade talks in London yielded limited progress, leaving key export control issues unresolved. While both sides agreed to ease tariffs55% on Chinese goods and 10% on US goodscritical