Yttrium Prices Outside China Surge 140-Fold Since April 2025 Restrictions
Key Facts
Yttrium prices outside China have surged about 140-fold since Beijing imposed export controls in April 2025, according to Argus data cited by Reuters. The jump places the metal among the materials most affected by Chinese supply restrictions, while its exports remain subject to a licensing regime. Reuters said prices outside China had risen by that amount through May 2026. Separately, Chinese customs data showed exports rose 35.2% year on year in October 2026. Imports also increased 41.6%, while the trade surplus narrowed as overseas purchases accelerated.
Price increases are evident beyond the comparison with the start of the restrictions. Another Reuters report said yttrium prices rose 6,900% in the twelve months ended February 2026. That measure covers a different period from the roughly 140-fold increase since April 2025, as it begins before the restrictions were imposed and runs through February. By contrast, U.S. Geological Survey data point to much smaller increases in annual average prices in 2025 compared with 2024: 42% for yttrium oxide and 22% for yttrium metal. These figures show how the periods and price measures cited in the reports differ, without making them directly comparable.
China’s Ministry of Commerce lists yttrium metal among the materials covered by export controls announced in 2025 and assigns it reference customs code 2805301700. The ministry says exporters seeking to export covered products must apply for a license from the competent commerce authority under the State Council. The metal’s flow abroad is therefore subject to a formal licensing process, as Reuters reports have recorded a sharp rise in prices outside China. The U.S. Geological Survey estimated that China produced most of the world’s yttrium supply in 2025. Together, China’s weight in production and the licensing requirements governing exports underscore the importance of export decisions for supply available outside the country.
Yttrium derivatives have specific industrial uses: yttrium oxide is used to make coatings that protect aircraft engines and power-plant turbines from high temperatures, according to Reuters. In February 2026, some airlines reported temporary production stoppages because of a yttrium shortage, an agency report said. This provides industrial context for higher prices and supply shortages, without specifying how much production was affected or how long the stoppages lasted. The oxide’s use also links the material to manufacturing supply chains for aviation and energy equipment. These applications show how a material shortage can affect industrial production processes that rely on heat-resistant components.
In Chinese trade, the October surplus was $105.3 billion, compared with $133.5 billion in September, as imports accelerated. Exports rose 35.2% year on year, while imports grew 41.6%, according to customs data cited by the Associated Press. From January through October 2026, China recorded a trade surplus of $1.04 trillion. Goods trade also expanded 31.2% in October, according to Chinese customs data reported by Xinhua through the Chinese government portal. These indicators provide a picture of China’s overall trade activity during the month, while yttrium price movements and export restrictions remain a separate issue.
On broader restrictions, China’s Ministry of Commerce said on November 9, 2026, that the suspension of some new export controls had been extended by two months, through January 10, 2027. The expanded measures covered by the suspension date to October 2025, according to Reuters. The announcement does not change the requirement under the rules for yttrium products to obtain an export license, according to the Ministry of Commerce. A White House official said the president’s team is in constant contact with China to ensure the flow of rare earth elements, while building reliable and resilient supply chains. The position places continued dialogue over material flows alongside efforts to diversify supply chains.