AsianFin -- A leading Chinese producer of rare-earth magnets has secured export permits for shipments to the U.S., Europe, and Southeast Asia, in a potential signal of improving trade ties between Beijing and Washington.

JL Mag Rare-Earth Co. said on Wednesday that several of its export applications had been approved by authorities, clearing the way for overseas deliveries, including to the United States. The announcement sent the company’s Hong Kong-listed shares soaring as much as 12%—their highest intraday level since 2022.

Rare earths, essential for technologies from electric vehicles to military hardware, have been a key flashpoint in the U.S.-China trade conflict. Beijing has long held sway over the global supply chain, with Chinese producers accounting for roughly 70% of global output. During the Trump administration, China was seen as leveraging this dominance in response to Washington’s trade pressure.

The move comes as officials from both countries met in London this week for high-level talks, reaching an agreement to restart the flow of sensitive goods—an encouraging step toward easing broader trade tensions.