NdPR price, page-2955

I recently made that same point. SMM domestic prices are largely irrelevant for LYNAS when ex-China businesses comes calling these days.

However, I did not mean to suggest that SMM domestic China are not worth following. And that is because the vast majority of ex-China REE concentrates are sold INTO China; these are the prices China will pay. Very little of any magnet metals are sold to ex-China; it’s a market they can easily dump into at a loss.

The vast majority of magnets are made in China as well; the ability to create magnets from the metals is anotherprices Chinese monopoly established and maintained by the same questionable means - as mentioned in the article. And if China keeps magnet prices down to pressure ex-China magmakers, it is possible their honey trap is just moved down the street for another decade or more and eventually LYNAS could be forced to sell their REEs into China at Chinese prices.

Supply security is fostered by demand security. LYNAS is most valuable when mine-to-metals-to-magnets-to-motors is all ex-China. Now that LYNAS is offering DyTb, what I want most is to see increasing demand from successful ex-China magnet makers. I am not concerned about the motors.