That is a big if. Yes demand will grow I have no doubts. The question is REE priced properly right now? I do not see good demand growth in the last two years that justifies the 3 X price growth. Price is Demand and supply Just looking at supply only shows half the picture.
Any economics course when talking about prices says to know where the turbulence is. This resent price rise and the fall of the last 6 months has had the greatest price instability first in Concentrate. Then Oxides. Then metals. And lastly magnets have been highly stable. So this rise and now fall has not been demand .
There are new technologies that either Reduce substantially or eliminate the amount of REE in motors. For instance MB in their high end AMGs is already shipping Axiel Drive motors. These use 50 ~ 70% less REE.
Axial flux motors: Mercedes and Ferrari’s edge in electric car performance | Autoblog
I think you are way to focused on general demand and need to look at much more of the picture.
NdPR price, page-1014
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