Rare Earth Magnets

China Suspends Exports: China has reportedly halted exports of critical rare earth magnets and related technology at several ports. This directly impacts industries reliant on these components.

Rare Earth Magnet Composition: These high-performance magnets are primarily made from rare earth elements like Neodymium (Nd), Samarium (Sm), and Dysprosium (Dy).

Wide Range of Applications: Rare earth magnets are vital for EVs, wind turbines, military systems (missile guidance), consumer electronics (smartphones), drones, and robotics. Their absence will affect these industries.

China’s Dominance: China controls over 80% of global rare earth refining capacity. This gives them significant leverage and allows them to use exports of these materials as leverage.

Supply Chain Concerns: The strategic importance of rare earth magnets makes supply chain security a concern, especially for countries like the United States that rely on imports. Due to China’s dominance these concerns can potentially affect them.