China Defends Rare-Earth Curbs on Japan as Yttrium Prices Soar 179x
Chinese Foreign Ministry spokesperson Mao Ning told a regular briefing in Beijing that the curbs were imposed in line with Chinese laws and regulations. She was responding to a report by a major British financial newspaper that Japan had asked Washington for help in pressing Beijing to loosen export controls as supplies of yttrium, a critical rare-earth element, run low.
“China’s position on maintaining the stability and security of global critical mineral production and supply chains remains unchanged,” Mao said, adding that all parties should play a constructive role.
The newspaper reported Tuesday that Japan could run through its yttrium stockpiles within months, a shortfall that threatens to disrupt automotive, aerospace and semiconductor production. Citing Japanese officials, it said Tokyo had turned to Washington and leading U.S. companies to seek their intervention.
The stakes are steep. Yttrium, a key ingredient in heat-resistant coatings for jet engines and semiconductor equipment, now costs 179 times more outside China than it did two years ago.
Beijing tightened export controls on Japanese companies in February, targeting firms it alleges are tied to military production.
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