Terbium

China has exported zero dysprosium or terbium oxide to Japan since November 2025, with the freeze running through May 2026, cutting off heavy rare earths critical for EV motor magnets. Japan still relies on China for roughly 80% of its rare earth imports, leaving automakers and chipmakers with few quick substitutes.

China's rare earth price index eased to 259.8, with domestic terbium quoted near $989-998/kg while ex-China contractual floors reach as high as $2,050/kg for terbium. The widening gap underscores a two-tier global market where heavy rare earth scarcity outside China makes availability, not quoted prices, the real constraint.

Nasdaq-listed REalloys says $58.3 million in capital commitments leave it fully funded to upgrade the Saskatchewan Research Council rare earth processing facility, targeting annual output of about 15 tons of terbium oxide and 30 tons of dysprosium oxide. A companion heavy rare earth metallization plant at Utah's Tooele Army Depot is slated for commissioning in early 2028.