By Lewis Jackson, Allison Lampert, Fanny Potkin and Ernest Scheyder

BEIJING/MONTREAL/SINGAPORE/HOUSTON (Reuters) -Global supplies of the rare earth element yttrium are running low due to Chinese export restrictions, sparking fears of shortages and surging costs that could hit aerospace, energy and semiconductor production.

China, the main source of the element used in speciality alloys found in engines as well as coatings to shield against high temperatures, restricted exports along with six other rare earths in April in retaliation for U.S. tariffs.

While a high-stakes meeting last month between U.S. President Donald Trump and Chinese President Xi Jinping had raised industry hopes for a more reliable flow of critical materials, the dispute has not been fully resolved.

So while China h

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