Overview

• Beijing expanded its controls on rare earths to cover additional elements as well as alloys, oxides, permanent magnets and processing know‑how, with export permits required from November 8.
• Traders and industrial buyers report reduced allocations from China and warn of market panic, with some expecting a quasi‑export pause in early November.
• Analysts and agencies cited in the coverage estimate China accounts for roughly 60–70% of global mining and about 90% of refining for these materials.
• Germany’s auto sector is highlighted as a major buyer for high‑strength magnets, and defense firms such as Rheinmetall have stockpiled critical inputs to buffer potential disruptions.
• Western responses are accelerating, including U.S. efforts to rebuild mining and future refining, investor interest in domestic suppliers, EU recycling initiatives and costlier magnet‑free motor designs at companies like BMW.