TOKYO — Prices for rare-earth elements critical to electric vehicle (EV) motors and other industrial applications have surged sharply outside China, particularly in Europe. Dysprosium, a heavy rare earth element used in EV motors, has increased by 700% from its pre-restriction levels in Europe.

China, which is virtually the sole global supplier of dysprosium and other heavy rare earths, imposed export restrictions that have significantly impacted international markets. However, these curbs have had little effect on prices within the Chinese domestic market.

This price gap highlights the growing challenges faced by industries reliant on rare earth materials amid shifting trade policies.

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