NdPR price, page-553

Company News  2h ago
China Summons Manufacturers After Prices of Rare Earths Surge
(Bloomberg) -- China has summoned automakers along with producers of electronics and magnet materials in a bid to bring surging rare earths prices under control, according to people with knowledge of the matter.
Delegates from the China Electronics Material Industry Association and maunfacturers including BYD Co., SAIC Motor Corp., Jing-Jin Electric Technologies Co. attended a meeting arranged by the Ministry of Industry and Information Technology on Wednesday, the association’s magnet branch said in a statement, without elaborating.   
The people with knowledge of the meeting’s discussions declined to be named because the information isn’t public. The ministry didn’t immediately respond to a fax seeking comments.
The meeting was ordered after prices of rare earths, a complex containing 17 elements that are used in everything from electric vehicles to smartphones, surged as demand outpaced supply. A power shortage exacerbated disruptions and a broad commodity rally has increased production costs.
Soaring rare-earth prices are boosting costs at manufacturers including automakers as the country grapples with the fastest inflation in over two decades. Neodymium and praseodymium -- two elements used in permanent magnets for cars and electric motors -- have jumped to the highest in more than a decade.

https://www.bnnbloomberg.ca/china-summons-manufacturers-after-prices-of-rare-earths-surge-1.1714035