Iran Conflict Has Minimal Impact on Rare Earth Industry, May Affect European Prices

Published: Feb 28, 2026 19:31

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SMM News: The conflict in Iran that began on the afternoon of February 28, 2026, has not yet had a significant impact on the rare earth industry chain. According to SMM data, China exported approximately 67 mt of rare earth permanent magnets to Iran throughout 2025, accounting for 0.11% of total exports, and about 746 mt to all Middle Eastern countries, representing 1.1% of total exports. It is expected that the situation will mainly affect ocean freight rates, subsequently impacting rare earth prices in Europe and further intensifying the upward trend in European rare earth prices.

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