Ford Halts Production at Chicago Plant Due to Rare Earth Shortage

【SMM Rare Earth Flash】 According to customs data, China's rare earth exports in September 2026 totaled 4,269.8 tonnes, up 6.7% YoY. Cumulative exports for January-September reached 43,711.2 tonnes, down 9.6% YoY. Rare earth imports in September were 6,804.7 tonnes, down 0.9% YoY, while cumulative imports for the first nine months totaled 76,982.5 tonnes, down 2.4% YoY. Monthly exports rebounded sequentially, though cumulative exports remained below year-ago levels, with imports also showing a slight contraction.

【SMM Rare Earth Flash】 Arafura Rare Earths has agreed to supply 850 t/y of NdPr oxide to Traxys North America from its Nolans project, a 70% increase over the initial term sheet. The binding agreement has a five-year term with an option to extend by two years. The May 2026 term sheet specified 500 t/y NdPr oxide and potential supply of 7.5 t/y Dy/Tb oxides. Traxys is one of three commodity trading and procurement companies selected for the U.S. strategic critical minerals reserve. Australia's A$1.2 billion Critical Minerals Strategic Reserve also committed to purchasing 500 t/y NdPr from Nolans. The project broke ground this month and is expected to first produce by mid-2029, meeting about 5% of global rare earth demand. The company is in talks with other potential offtake partners.

[SMM Rare Earth Daily Review: Rare earth prices move sideways, with no improvement in inquiry activity] In the short term, Pr-Nd series prices are likely to move sideways amid insufficient transaction follow-through, and the strength shift between the metal side and the raw material side will still depend on the pace of downstream order releases. For medium-heavy rare earths, after the weakening of gadolinium series, attention should be paid to whether it spreads to other varieties. After consecutive price increases of erbium products, attention should be paid to whether transactions can sustain the gains. Terbium and dysprosium series are likely to remain stable in the short term.