The price of the heavy rare earth metal yttrium in Europe reached $1,087 per kilogram, up nine times compared to last year, Nikkei Asia writes. The increase in the prices of raw materials used in the defense industry and in semiconductor production is due to export restrictions from China. Against the backdrop of the risk of shortages, Japan and the US are coordinating efforts to diversify supply chains, and are increasing purchases from South Korea and European countries.

The price of the heavy rare earth metal yttrium in Europe reached $1,087 per kilogram, up nine times compared to last year, Nikkei Asia writes. The increase in the prices of raw materials used in the defense industry and in semiconductor production is due to export restrictions from China. Against the backdrop of the risk of shortages, Japan and the US are coordinating efforts to diversify supply chains, and are increasing purchases from South Korea and European countries.