Rare earths are among the most critical raw materials on the planet, deeply embedded in the technologies that underpin modern life. Yet few people had even heard of them until the eruption of the US-China trade war thrust them into the limelight.

China's manufacturing activity ticked up in June but remained in contraction territory, official data showed on Monday, as the truce in its trade war with the United States held. However, Beijing and Washington called a truce on the staggeringly high duties in May,