Weekly News Review December 22 – December 28 2025

Welcome to our weekly news review. We had said you would not hear from us for a couple of weeks; however, there has been important official data released by China this week.

The Chinese customs authorities released data on foreign trade in critical raw materials and their derived component for the month of November. A near-record in rare earth magnet exports is offset by a sharp decline in exports of dysprosium and terbium. Fresh figures are also available for gallium and germanium, where exports are moving in opposite directions once again.

A special thank you to  editorial at Strategic Metals and, of course, our media partners @rohstoff.net

CHINA: EXPORTS OF RARE EARTH MAGNETS APPROACH RECORD LEVELS –

China significantly increased exports of rare earth magnets again in November, according to the latest foreign trade data from the country. At just under 6,150 tonnes, export volumes were roughly in line with August 2025 levels, though still below the record high recorded last January. Compared with the previous month, exports rose by more than 12 percent. As in September, the main destination countries were Germany, South Korea, the United States, Vietnam, and India.

Exports of rare earth magnets had fallen sharply several months ago after Beijing introduced export controls on certain rare earth elements and products derived from them. Because many types of magnets contain raw materials such as dysprosium or terbium that fall under the new regulations, while customs codes do not allow differentiation by specific material composition, approval procedures for rare-earth magnets were delayed across the board.

CHINA’S EXPORTS OF DYSPROSIUM AND TERBIUM DECLINE SHARPLY:

According to newly released data from Chinese authorities, exports of the rare earth elements dysprosium and terbium, both critical for magnet technologies, fell sharply in November. Export restrictions have been in place for both elements since April, weighing on market availability.

Dysprosium exports dropped by nearly 72 percent from October to 995 kilograms. By a wide margin, Vietnam was the largest destination, followed by Malaysia, South Korea, and Russia. Terbium exports declined by almost 67 percent to 4,045 kilograms. In November, China shipped terbium almost exclusively to Japan, with smaller volumes going to Russia and South Korea.

CHINA’S GALLIUM EXPORTS DECLINE RAPIDLY IN NOVEMBER:

More Germanium, significantly less Gallium: Diverging export trends in technology metals highlight the market’s volatility once again.

After hitting a record in October, China exported significantly less gallium in November. With 7,279 kilograms shipped, exports fell 53 percent compared with the previous month, according to the latest data from the Chinese Customs Administration.

Shifts are also visible among the destination countries: After taking the lion’s share in October, Germany received nothing in November, while Japan became the main recipient with 6,207 kilograms. South Korea followed with 872 kilograms, and Taiwan and Estonia each received 100 kilograms.

In contrast, China’s germanium exports have increased for the second consecutive month. Shipments already more than doubled in October compared with September. In November, exports reached 1,688 kilograms, marking another 34 percent rise.

Among the destination countries, the picture remained largely stable: As in October, Russia received the largest share, followed by Germany. France moved up to third place, overtaking Taiwan.

The availability of gallium and germanium on global markets is heavily influenced by China’s strict export licensing system, in place since the summer of 2023. Beijing justifies the regulations with the potential military applications of these raw materials.

RECORD HIGHS FOR PLATINUM AND GOLD:

Platinum reached an all-time high in euro terms at €1,760/oz on the penultimate Monday of the year. One driving factor could be the softening of the EU’s ban on internal combustion engines, which will come into effect in 2035. The automotive sector is a major consumer of platinum-group metals, which are used in catalytic converters. In addition, China is increasing its influence on the market through the recently introduced platinum and palladium futures and options on the Guangzhou Exchange.

Meanwhile, gold reached $4,400/oz in U.S. dollar terms for the first time. This is likely driven by expectations that the U.S. central bank will continue cutting interest rates. Moreover, gold remains the classic “safe haven” in times of political instability.

Overall, precious metals can look back on a strong quarter and year.

JAPAN PUTS DEEP SEA MINING’S PROFITABILITY TO THE TEST:

The country plans to build a test facility by 2027 for the further processing of seabed sludge, with rare earths in focus.

Undersea resource extraction is becoming more concrete in Japan. After the country announced a pilot mining project last July, set to start in early 2026, it is now also clear where the resources could be processed. By 2027, a demonstration facility is to be built on the Pacific island of Minamitorishima, around 100 kilometers from the proposed mining site and nearly 2,000 kilometers from the Japanese mainland.

According to Nikkei Asia, the facility’s primary purpose will be to reduce the volume of sludge recovered from the deep sea, which is estimated to contain about two kilograms of rare earth elements per ton. For final refining, the material would then be transported back to the mainland.

How economically viable this complex logistics chain will be in practice remains to be seen through the trials. Clearly, however, Japan appears determined to reduce its economy’s heavy dependence on raw material imports, even by unconventional and controversial means. Regardless, the United States has recently expressed interest in cooperating on developing the resources off Minamitorishima.