China's Rare Earth Exports Rise 6.7% in September, but Nine-Month Shipments Fall 9.6%

Highlights

• China exported 4,269.8 metric tons of rare earths in September 2026, up 6.7% year-over-year but down 9.8% from August
• January–September 2026 cumulative exports fell 9.6% to 43,711 tons, revealing persistent supply restrictions beneath monthly fluctuations
• China's Ministry of Commerce export licensing requirements mean higher shipment volumes do not equal unrestricted access for Western defense and aerospace buyers
• Investors should track element-specific exports for dysprosium, terbium, and yttrium—not headline tonnage—to assess true supply security