Beijing has approved more export licenses for the critical minerals and magnets in recent days, but supplies remain scarce and factories in the West are running out.

China is willing to accelerate the examination and approval of rare earth exports to European Union firms and will also deliver a verdict on its trade investigation of EU brandy imports by July 5, its commerce ministry said on Saturday.

China views its rare earths as a national security issue, not a trade one, and that’s why Beijing is unlikely to loosen controls any time soon, experts say.