Cerium & lanthanum, catalysis rare earths

Cerium and lanthanum are the "light" rare earths of catalysis: oxygen buffer of three-way catalytic converters, stabiliser of FCC zeolites, polishing powder for optics and wafers. Long abundant by-products, they now fall under China's export licensing regime, extended since 2023. Separation capacity outside China, Lynas, MP Materials, remains too thin to cover world demand in catalysis and polishing.