China has introduced a tracking system for its rare earth magnet sector, three sources said, as its export restrictions on them begin to cut off customers around the world.

China has officially activated a tracking system for the rare earth magnet industry, further tightening control over this critical resource. Three sources

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.S.