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12:14
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Originally posted by ChasingProfits:
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China has dominated the rare earth markets since the 90s and accounts for approximately 65% of the mining side, 85 percent of rare earth processing and 92% of rare earth magnet production as of Dec 22. Why am I highlighting this fact, well it is the main reason why China wants to suppress rare earth prices at the front end. It has taken Lynas multiple decades to even turn a profit due to China’s dominance in this space, even with the incredible Mt Weld deposit (one of the worlds highest TREO deposits). The reason being is they were selling raw material at low prices to China (playing right into their hand as China were the ones controlling the price they paid to other companies). They had no where else to send the supply so they had to cop the market prices available to them. Simple economics.
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Thanks good to read what is actually going on in the REE field and yes you've call it very correctly IMO. China is and has the ability for now to control prices and it knows this. Now this kind of informative information is far more of use than the what has become the usual child like bickering posts that some continue with on here. Note - Twitter is fast becoming a far more adult place than HC for most discussions relating to IXR/REE.
(20min delay)