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EARTHS BACK ON RADAR","rare-earths-back-on-radar","article/rare-earths-back-on-radar",{"_uid":557,"date":558,"tags":559,"editor":560,"content":570,"excerpt":648,"featured":50,"reporter":649,"_editable":653,"component":654,"seo_title":553,"categories":655,"visibility":664,"author_company":49,"featured_image":665,"seo_description":648,"author_full_name":49,"author_job_title":49,"formattedDate":670,"formattedArticleDate":671},"1f483da4-8f7e-473e-88a2-1ebceb7d522f","2019-07-22 00:00",[],[561],{"slug":562,"name":563,"content":564},"matthew-bird","Matthew Bird",{"job_title":565,"image":566,"bio":568,"linkedin":569},"Senior Editor - Supply Chains & Data Visualisation",{"filename":567},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":571,"content":572},"doc",[573,581,587,592,597,602,611,616,621,626,633,638,643],{"type":574,"attrs":575,"content":577},"heading",{"level":576,"textAlign":49},4,[578],{"text":579,"type":580},"As China hinted it might draw rare earths into the US-China trade war, Benchmark spoke to Ryan Castilloux, Managing Director, Adamas Intelligence, about recent developments","text",{"type":582,"attrs":583,"content":584},"paragraph",{"textAlign":49},[585],{"text":586,"type":580},"China’s dominance of the rare earths industry is impressive even when compared with other battery materials.",{"type":582,"attrs":588,"content":589},{"textAlign":49},[590],{"text":591,"type":580},"The US-China trade war has not gone away and this quarter saw rare earths brought back to the attention of the mainstream press. Following Xi Jinping’s visit to a magnet factory in May, which was viewed as a hint that it might use its control of rare earths as a pawn in the trade war, there has been widespread speculation that China will cut off its supplies of rare earths to the USA.",{"type":582,"attrs":593,"content":594},{"textAlign":49},[595],{"text":596,"type":580},"This is not the first time rare earths have received widespread coverage. In 2010 China weaponised its rare earths supply by cutting off exports to Japan for nearly two months. Western governments and corporations are therefore unlikely to dismiss these threats without considering the implications.",{"type":582,"attrs":598,"content":599},{"textAlign":49},[600],{"text":601,"type":580},"Rare earth elements (REEs) are vital to the USA’s defence industry and are used in most electric vehicles. For instance, Tesla makes use of neodymium-iron-boron (Nd-Fe-B) in its permanent magnet motor as part of its electric vehicle drivetrain. Any trade disputes could therefore have a significant impact on US industry.",{"type":582,"attrs":603,"content":604},{"textAlign":49},[605,607,609],{"text":606,"type":580},"“The fuel cracking catalyst industry, wind power industry, electric vehicle sector and defence industry would all bear the brunt of a slowdown or stoppage of rare earth exports from China,” said Ryan Castilloux, Managing Director of rare earths information publisher, Adamas Intelligence, speaking to ",{"text":608,"type":580},"Benchmark",{"text":610,"type":580},".",{"type":582,"attrs":612,"content":613},{"textAlign":49},[614],{"text":615,"type":580},"He continued, “for the former three, it may be possible for exposed US manufacturers to shift some US production to their international manufacturing facilities to circumnavigate the issue. But it’s likely China would be wise to such a move and could implement broader restrictions that halt exports to US companies abroad as well.”",{"type":574,"attrs":617,"content":618},{"level":576,"textAlign":49},[619],{"text":620,"type":580},"CHINA’S SUPPLY CONTROL",{"type":582,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":580},"Castilloux explained the extent to which China controls rare earths supply, “the global supply chain is highly reliant on China. In 2018, China was responsible for about 70% of global mine production but dominates 85-90% of all value-adding steps downstream of the mine, including oxide separation, metal making, alloying and, most importantly, magnet making.",{"type":582,"attrs":627,"content":628},{"textAlign":49},[629,631],{"text":630,"type":580},"“Looking ahead, we believe China’s share of global mine production will continue to fall further as new mines outside China come on-stream. But its share of downstream value-adding steps that convert rare earth mine outputs",{"text":632,"type":580},"into market-desired products will continue to expand, speaking to the nation’s growing focus on dominating the downstream where profit margins are greater and activities are cleaner, environmentally speaking,” he said.",{"type":582,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":580},"Rare earths have a history of price spikes and Castilloux described recent pricing developments, “prices of heavy rare earths have been rallying since March following a slowdown of feedstock imports into China from neighbouring Myanmar, which was a major supplier of concentrate to processing companies in China’s south last year.”",{"type":582,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":580},"Emphasising the sensitivity of rare earths prices, he said, “however, following Chinese president Xi Jinping’s visit to a magnet factory on May 20, a frenzy of speculation ensued that China was considering halting exports to the US, launching a more broad-based rally of prices that lifted everything from cerium to yttrium.”",{"type":582,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":580},"Despite the heated rhetoric between the US and China, asked whether he expected China to follow through and limit exports Castilloux said, “in our view it is unlikely. While such a move may offer China some leverage at the negotiating table today, it risks destroying a lot of demand over the medium- to long-term term as insecure end-users will look for alternative sources of supply or to substitute rare earths in their products for something else.”","As China hinted it might draw rare earths into the US-China trade war, Benchmark spoke to Ryan Castilloux, Managing Director, Adamas Intelligence, about recent developments China’s dominance of the rare earths industry is impressive even when compared with other battery materials. The US-China trade war has not gone away and this quarter saw rare earths […]",[650],{"slug":562,"name":563,"content":651},{"job_title":565,"image":652,"bio":568,"linkedin":569},{"filename":567},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"1f483da4-8f7e-473e-88a2-1ebceb7d522f\", \"id\": \"\"}-->","article",[656,659,662],{"slug":657,"name":658},"batteries","Batteries",{"slug":660,"name":661},"critical-minerals","Critical Minerals",{"slug":663,"name":420},"rare-earths","private",{"id":49,"alt":666,"name":666,"focus":666,"title":666,"source":666,"filename":667,"copyright":666,"fieldtype":668,"meta_data":669,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/5ba8a7f1c4/bm-chinese-flag-credit-harald-groven.jpg","asset",{"alt":666,"title":666,"source":666,"copyright":666},"Jul 22, 2019","22nd July 2019",[],[],1792773942719]