Yttrium oxide surged to $126/kg after China restricted exports, exposing supply-chain risks for industries relying on rare-earth oxides.
By Paul-Alain Hunt — November 17, 2025 Yttrium oxide, a rare-earth oxide used in phosphors, lasers, electronic ceramics and catalysts, climbed to an all-time high after rising nearly 1,500% this year. Prices reached $126 per kilogram, up from under $8 at the end of 2024, according to Asian Metal Inc. The surge followed China's April export curbs on several rare earths, including yttrium, which tightened global supply and reshaped market dynamics. The jump underscores how concentrated production and unilateral export controls can rapidly ripple through industrial supply chains. Manufacturers that rely on yttrium face higher input costs, while buyers are likely to accelerate diversification of sources, recycling efforts and substitution research. The episode highlights strategic vulnerabilities in critical-material sourcing and could prompt policy and industry measures to reduce dependence on single suppliers.