China's exports of rare earth magnets fell in September, reigniting fears that the world's top supplier could wield its dominance over a component key for U.S. defence firms and makers of items from cars to smartphones as leverage in trade talks.

China’s Ministry of Foreign Affairs on Tuesday said resource-rich countries should play a proactive role in bolstering their rare earth supply chains.

Cleveland-Cliffs CEO Lourenco Goncalves announced plans to explore rare earth mineral production at sites in Michigan and Minnesota amid China's export controls.

Global automakers are scouring the globe for crucial rare earths ahead of looming Chinese export controls, with executives worried they could lead to parts shortages and plant closures.

The third reason for recent dips is that the market is forward-looking. Rare-earths shares have been strong most of the year, since China threatened export restrictions on rare-earths materials. China dominates rare-earths production, with an estimated 85% of global refining capacity.

UCore Rare Metals (UURAF), Critical Metals Corp (CRML), USA Rare Earth (USAR), and Lynas Rare Earths (LYSCF) are highlighted as top picks poised to benefit from Western decoupling and potential DoD support.

China leads the world when it comes to the production and processing of rare earths. That may be a key weapon in its trade battle with the U.S. — and its move to expand export restrictions on those elements shows that China knows it.

In Rare Earth’s 1971 hit, “I Just Want to Celebrate,” there’s a line that goes “had my hand on the dollar bill and the dollar bill flew away.” People who have investing in rare earth metals recently have had a lot to celebrate but market analysts suggest they keep a tight grip on that dollar bill.