new delhi, July 8 -- Manufacturers using permanent magnets in automobiles and electronics products rushed to secure the supplies of magnets in March and April by paying more, just as trade tensions spiked between the US and China. Mint's analysis of the country's trade data showed that the quantity of imports of such magnets saw a jump in March and April, with a 20% and 87% respective increases compared to a year ago. In value terms, the imports increased by 37% and 19% during these two months. Imports at such a premium are in contrast to the low prices of such imports in 2024-25 during which, while the quantity of imports of these magnets nearly doubled, the value of these imports increased by only 3%. India imported 53,740 tonnes of permanent magnets in FY25, a rise of 88%. However, in terms of value, the imports totalled $206 million, an increase of just 3%. By contrast, total import volume rose 21% year-on-year to 2,674 tonnes in March, with value jumping 38% to $16.87 million. Similarly, for April, volume stood at 3,064 tonnes, rising 87%, while value rose 17% to $17.64 million. The sudden jump in value in March and April, along with a surge in quantity, suggests that suppliers rushed to secure the supplies by paying more, anticipating disruptions. "Since the start of the year, traders have been bracing for the impact of trade uncertainty after (US President) Donald Trump came to power. More suppliers rushed to secure the supplies, which is reflected in March and April's numbers," said Puneet Gupta, director at market intelligence firm S&P Global Mobility. Permanent magnets category reported by the government have both ferrite and rare earth magnets. However, industry experts suggest that due to the performance advantage of the rare earth magnets, it's rare earth magnets that are mostly imported. "The sudden rise in the value of permanent magnet imports is something that China's export control order aimed for. This is a phenomenon that countries across the world will be facing," Sharif Qamar, associate director-transport and urban governance at TERI, a non-profit think tank. As per data compiled by Axis Securities, rare earth magnet prices have increased by 13-17% since Trump took over the US presidency in January. In March, Trump announced the imposition of 25% tariffs on automobile imports into the country, triggering panic among sellers in countries like China, South Korea and Japan that have a significant exposure to the market. In April, the Trump administration doubled down and imposed reciprocal tariffs on all countries. In response to tensions over trade with the US, China imposed a restriction on the export of rare earth magnets starting April 4. What was initially thought to be a move aimed at the US soon engulfed Indian suppliers as well. "Chinese vendors started warning Indian motor makers like us to stockpile as restrictions could come into effect," a motor manufacturer told Mint on the condition of anonymity. The stocking of such magnets has ensured that production at India's top automakers has not been disrupted, and they still have some stockpile left. However, the clock is now ticking as China has not approved any applications so far. More than three fourths of such imports happened directly with China....