MUNICH / LONDON (IT BOLTWISE) – Prices for rare earths rose by 8.2 percent in the third quarter, significantly influenced by China’s export restrictions. These metals are essential for numerous industries, and dependence on China is increasingly perceived as a risk. Experts are calling for a diversification of sources of supply in order to increase security of supply.
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Global markets are facing a challenge: Rare earth prices rose 8.2 percent in the third quarter, largely due to China’s strict export restrictions. These 17 metals are essential for numerous industries, from automotive to defense. Dependence on China, which controls around two thirds of the world’s production and 90 percent of the processing of these metals, is increasingly perceived as a risk.
Bertram Brossardt, General Manager of the Bavarian Business Association (vbw), warns against this one-sided dependence and calls for a diversification of sources of supply. A price increase of 8.9 percent was already recorded in the second quarter, which illustrates the continuous increase in the price of these raw materials. The vbw has documented current developments in its raw material price index and sees an urgent need for action.
In the meantime, talks between Xi Jinping and Donald Trump have led to a temporary suspension of Chinese export controls. However, there is still no fundamental agreement on the trade conflict. The export controls were introduced by China in response to the threat of punitive tariffs from the USA and were tightened again in the autumn. These measures have placed increased focus on US and EU efforts to reduce their dependence on China.
In addition to rare earths, prices for precious metals such as gold, silver and platinum also rose by 12.6 percent in the third quarter. This is attributed to an increasing risk aversion among investors, who are increasingly investing in investments such as gold that are considered safe. The uncertainties on the raw material markets and the geopolitical tensions contribute to this development.
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