On Friday, U.S. rare earth concept stocks surged sharply. Critical Metals (CRML.US) soared over 14%, United States Antimony (UAMY.US) rose 9%, Energy Fuels (UUUU.US) gained over 6%, MP Materials (MP.US) increased over 4%, and American Resources (AREC.US) advanced over 2%. The news driving this movement is that China's Ministry of Commerce issued two announcements on October 9 regarding the strengthening of export controls on rare earth-related items. These announcements implement export controls on certain overseas rare earth-related items containing Chinese components and on rare earth-related technologies.

It is reported that China currently dominates the global rare earth supply chain. According to 2025 data from the U.S. Geological Survey, global rare earth ore reserves are approximately 90 million tons, with China holding 44 million tons, accounting for 48%. In 2024, global total production was 390,000 tons, with China contributing 270,000 tons, representing 69%. More crucially, China masters over 90% of the rare earth smelting and separation technology, capable of achieving 99.99% purity refinement. This core technology is precisely the "shortcoming" for Europe and the United States.