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China’s Ministry of Commerce has prohibited the export of rare earth magnet production technology and machinery by adding it to its list of Export Prohibited and Restricted Technologies, according to a statement released on Thursday December 21.
Thursday’s announcement formalizes existing export restrictions on all rare earth magnet production technology and machinery that have been in place for many years, Fastmarkets understands.
The list includes, among other things, technology for: rare earth extraction and separation, including ionic leaching (heavy rare earth ores); the production of rare earth metals and alloys; the production of neodymium iron boron (NdFeB), samarium cobalt and cerium magnets; and the production of boric acid and calcium oxide, which are both raw material inputs in the production of NdFeB magnets.The Ministry of Commerce said the catalogue’s revision “is a specific measure taken by China to adapt to changes in the technological development situation and improve technology trade management.”
Several large magnet projects outside China are under development, targeting the growing electric vehicle market.
The supply chain for rare earth materials and permanent magnets is complex, regionally concentrated and marked by a lack of transparent pricing. This can lead to unpredictable costs, budgeting difficulties and supply insecurity. Geopolitical tensions further add to this uncertainty.
Listen to Fastmarkets’ strategic markets editor Caroline Messecar interview rare earths industry veteran Constantine Karayannopoulos, retired CEO of Neo Performance Materials where we tackle key questions in this industry.
Stay informed, make confident decisions and navigate the dynamic rare earths market with Fastmarkets as we provide reliable, objective and timely information to help you navigate this market.
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