What is Yttrium, and why does China control its supply?

Yttrium (Y) is a rare-earth metal used in jet engines, semiconductors, lasers, and advanced ceramics. Its superpower? Heat resistance. Yttrium-based coatings protect jet-engine components from extreme temperatures. Yttrium is typically recovered alongside other rare earths from ores and mineral-rich clays, then refined into yttrium oxide, a white powder used by manufacturers. In 2025, global mining produced an estimated 10,000–15,000 metric tons of yttrium oxide equivalent. China dominates production and refining; Myanmar is another significant source. The price shock? In October 2026, high-purity yttrium oxide was quoted below $9 per kilogram inside China. Outside China, reported prices reached approximately $1,150 per kilogram. China imposed export controls in April 2025. Japan faces shortages. The US depends entirely on imports. Controlling a critical ingredient gives Beijing leverage over aerospace and semiconductor manufacturers. My forecast: the price gap between China and the rest of the world lasts through 2030, with outside buyers paying at least 10 times more. Lynas targets yttrium production in early 2028, but 1 new producer does not break China's dominance.