According to an exclusive report by the UK's Financial Times on October 20, Japan's supply of yttrium—a critical metal for high-tech manufacturing—can only last a few months, and Japan has asked the United States to help persuade China to relax its rare earth export controls to avoid manufacturing stoppages. After China imposed export licensing on yttrium, its exports of yttrium oxide to Japan plunged 97.7% year-on-year from January to May this year, while overseas yttrium oxide prices soared to about $1,150/kg (only about $9/kg domestically). Yttrium is an important alloy/powder additive element, and its supply stability directly affects the production of high-end alloy powders.