Europe should establish its own pricing index for rare earths and specialty metals to lessen its reliance on China, Reuters reported Wednesday, citing EIT's Bernd Schaefer.
Schaefer said the index should have transparent, market-based price benchmarks for critical minerals traded outside China. The index should also collaborate with other traders in countries like the U.S. and Australia, according to the report.
The European Union is targeting to mine at least 10% of its yearly requirements of strategic raw materials by 2030 and depend on a third country for up to 65% of its yearly needs, the media outlet said.
In December 2025, the EU launched its RESourceEU action plan to accelerate the diversification of the region's supply chains while mitigating its overdependence on China, Reuters said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)