China on Saturday said it had granted approval to some applications for the export of rare earths, in a move that comes just ahead of fresh trade talks between Chinese and U.S. officials on Monday. China's strict export controls over rare earths has been a flashpoint in trade relations with the U.

China’s new restrictions on rare earth exports have caused significant supply chain disruptions and price instability in global markets, impacting industries like automotive, renewable energy, and defense.

Shares of Australia's Lynas Rare Earths climbed on Thursday to their highest point in more than two years, after global automakers warned that China's export restrictions on rare-earth materials could lead to production delays.