Price of niche rare earth jumps on fears of renewed Chinese export controls

The price of erbium, a rare earth element crucial for various infrastructure technologies, has surged due to concerns over potential renewed export restrictions from China, which controls a significant portion of its production. This development underscores the global dependency on China for critical materials and the potential economic and technological impacts stemming from geopolitical tensions. As industries worldwide rely on these metals, any changes in China's export policies could have far-reaching implications for tech advancements and supply chains.