short covering, page-46

Lol TD, you expect them to publish front page NYT?

It's all there for any that go looking, the Dragon has been increasingly open re it's ambitions & strategy, and regularly updates progress. A very large portion of trading has been moved onto open exchanges, just the past few weeks both Nth & Sth have published listed prices for the first time, the attendances & presentations of Chinese RE & NdFeB producers has increased very noticeably the past few years, frankly it's all there, and for VERY good reason.

The Dragon's first effort to leverage Deng's legacy was based on MASSIVE deception, and ran totally out of control resulting in MASSIVE destruction, that has ultimately destroyed the economics of the HRE industry, years before it would have happened otherwise. China attempted to create the image of scarcity, the fear factor, when in reality it had supply capacity circa 3x global demand, and alt routes to mkt (incl open truckloads of ore driving across the border to Japanese plants in Nth Vietnam).

They know that ain't going to work any better a second time, so they need to make sure it is REAL this time. And it's NOT the "wot's in the ground" mantra of the wannabe's, rare earth's just aren't rare, the number of bastard offspring of the bubble are ample testimony to that, some still gasping for air, it is the ability to economically turn them into something useful that is the ONLY consideration.

The Japanese template is there for all to see, with NO primary resource, and now little primary process, they take $34kg NdPr and turn it into $90kg NdFeB, nice work when you can get, even better if you can dominate it.