I beg to differ; Price is not a product of Supply vs Demand, Price is what Xi says it needs it to be, to dissuade the West developing its own Rare Earth Industries. That the price of NdPr is currently dropping is not logical; given the current level of supply into China, the missing Stockpiles and the rising price of N52 Magnets (the NdPr in a magnet is now worth US$180,000/t almost 50% higher than last year).
On top of that Xi is saying he wants a 25% increase in production over the next twelve months, Pollution of the Irrawaddy is drawing attention to the Illegal mining in Myanmar and is now coming under scrutiny from both sides of their dispute. AND the Northern Winter starts in just twelve weeks time, when the Chinese traditionally have to shut down their factories so that they can divert the Power to Beijing for heating !
Until the West can start producing ESG compliant RE metals the Market will be open to Manipulation.
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