Why Is This Rare Earth Metal 346 Times More Expensive In America Than in China?

AI Summary

Samarium prices in North America can be hundreds of times higher than in China, highlighting manufacturers’ dependence on Chinese rare-earth supplies. The article notes that magnet-dependent industries could face much higher costs if exports are restricted, while Japan is seeking cooperation with Washington on supply risks.

Samarium sells for as much as 346 times more in North America than in China, and that price is just a preview of what American industry would pay the day Beijing stops exporting. Jet engines, industrial motors, EVs, wind turbines and medical scanners all run on rare earth magnets, and most U.S. manufacturers still buy theirs from China, at Chinese prices. Outside China, dysprosium costs five times as much and yttrium more than 100 times as much. Japan has already learned what happens when the Chinese supply slows: its government is asking Washington…