Overview
- China’s Announcement No. 61 extends export controls to products containing Chinese‑origin rare earths even after foreign processing and requires permits for such exports.
- Chinese authorities have prohibited exports of rare earths for military purposes, with key provisions slated to take effect in early December.
- China Customs data show September exports of rare‑earth magnets fell 6.1% from August to 5,774 tonnes, with shipments to the U.S. down 28.7%.
- Western industries report sharp price spikes and supply stress, with traders citing increases of up to 200% and Europe’s reliance underscored by limited non‑Chinese processing and recycling capacity.
- G7 finance ministers are discussing a coordinated response, and Washington signaled firmness even during market volatility, while President Trump and Prime Minister Albanese said the U.S.–Australia deal will channel billions into new processing projects within six months.