CSC Financial research note says Chinese dental zirconia makers have received
notices from Japan's Tosoh suspending supply of zirconia powder, signaling
raw-material shortages have moved from expectation to reality after overseas
rare-earth constraints. YSZ (yttria-stabilized zirconia), a yttria-doped
high-performance ceramic, faces steep domestic-foreign price divergence:
domestic yttrium oxide quoted about 55,000 yuan/ton, Rotterdam port price
$457.50/kg and Baichuan reports a European price of $1,175/kg, with some spreads
exceeding 100x. Baichuan data show similar widening for other oxides: dysprosium
~8x, terbium ~5x, gadolinium ~40x, scandium ~6x. Rare earths are essential
additives for high-end materials and manufacturing; tightening overseas supply
and expanding spreads imply Chinese producers of rare-earth-added high-end
materials could gain global market share, supporting upstream, midstream and
downstream segments of the domestic rare-earth industry chain.
