Welcome to the Goudsmit UK July Market Update. This update provides an overview of key developments, helping you stay informed and prepared for whatever the market brings.
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Market Outlook:
China’s recently implemented export licensing requirements for certain rare earth elements—including terbium, dysprosium, and gadolinium—are beginning to impact global supply chains. Exporters must now obtain formal authorisation prior to shipment, with licensing processes often exceeding 45 days.
These elements are essential to sectors such as electric vehicles, electronics, and advanced manufacturing, with their restricted availability prompting UK buyers to reevaluate sourcing strategies. Some are increasing local stock levels or seeking alternative global suppliers to maintain continuity in production and avoid bottlenecks.
With persistent disruption across both sea and air freight, businesses are reminded of the importance of agility in supply chain planning. Diversifying transport strategies, maintaining clear lines of communication with logistics providers, and forward planning are essential to navigate the current climate and sustain service levels.
As your trusted supply partner, Goudsmit UK is here to support you through these ongoing challenges. We’re actively working with our logistics network to mitigate delays and maintain consistent delivery. Our team is on hand to help manage inventory strategies, provide shipment updates, and ensure continuity in your magnetics supply chain.
Exchange Rate
Worst USD to GBP exchange rate in June 2025: 0.7282
Best USD to GBP exchange rate in June 2025: 0.7452
Average USD to GBP exchange rate in June 2025: 0.7374
Port Operations
Port congestion at Ningbo remains a significant challenge, with average vessel waiting times ranging from 24 to 36 hours, and occasional peaks stretching beyond that during busy periods. The continued avoidance of the Red Sea—forcing vessels around the Cape of Good Hope—remains a key factor extending transit durations.
Door-to-door delivery times are now regularly reported between 30 and 40 days, with shipment reliability remaining uneven. Freight rates are fluctuating as carriers recalibrate their schedules, including blank sailings and adjusted rotations, to balance demand and capacity. Importers are advised to factor in longer lead times, hold safety stock where possible, and explore split shipments to reduce the risk of extended delays.
Airport Operations
Air freight rates from China to Europe have exceeded $3.50/kg, driven by sustained demand and continued pressure on ocean freight capacity. While flight schedules remain generally stable, the squeeze on cargo space is causing frequent overbookings and sharp price increases, especially on short notice.
Transit times typically range from 8 to 10 days but can be extended due to congestion at major hubs and airspace restrictions, particularly over Russian territory. Shippers of time-critical or high-value goods are securing priority, which has reduced availability for general cargo. Advance booking, flexibility on uplift options, and good visibility of cargo readiness are key to securing space.
Commodity Rates
In June 2025, commodity prices largely increased, with several metals continuing their upward momentum. Cobalt rose again, reaching $34.73/kg, marking its fourth consecutive monthly increase as a result of China’s rare earth export restrictions.
Copper also continued to climb, now at $11.25/kg, its highest point this year. Aluminium edged up to $2.62/kg, while Samarium saw a modest rise to $11.00/kg. Zinc continued its gradual recovery, moving up to $2.78/kg. Neodymium remained stable at $75/kg for the second month in a row. Nickel was the only metal to decline, easing slightly to $15.26/kg.
Thanks for reading the Goudsmit UK Market Update. At Goudsmit UK, we specialise in providing high-quality magnets and engineered components tailored to meet your specific needs.
Our team of experts is dedicated to helping you find the perfect magnetic solutions for your projects. For more information about our products and services, contact us today.
