China Keeps Rare Earth Curbs, Holding Key Exports at 41%-49% After Trump-Xi Summit
Updated
Updated · OilPrice.com · May 26
China Keeps Rare Earth Curbs, Holding Key Exports at 41%-49% After Trump-Xi Summit
12 articles · Updated · OilPrice.com · May 26
BMI said China’s April 2025 rare earth export controls remain fully in force after the May 14-15 Trump-Xi summit, with no formal deal or timeline to ease supply restrictions.
Exports of dysprosium, yttrium and terbium are still running at 41%, 42% and 49% of pre-curb volumes, while yttrium prices have jumped about 15-fold, hitting U.S. aerospace and semiconductor users.
China still dominates the market with about 60% of mined output and 99% of heavy rare earth processing capacity in 2023; the only non-Chinese heavy-processing refinery in Vietnam is offline.
Washington has responded with a $400 million Pentagon stake in MP Materials, Apple’s $500 million magnet purchase commitment and $1.6 billion for USA Rare Earth, but new supply chains will take years to build.
The pressure point is November 2026, when a one-year suspension of China’s broader October 2025 controls expires unless the two sides reach a new agreement.
Can U.S. investments break China's rare earth monopoly before the looming November deadline?
Is the West's rush for rare earths creating a new environmental crisis at home?
Beyond government cash, can Western rare earth projects ever truly compete with China on cost?