#magnets — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #magnets, aggregated by home.social.
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China Plans to Ban Exports of Rare Earth Magnet Tech
China is considering banning the export of technologies used to produce high-performance #rare #earth #magnets deployed in electric vehicles, wind turbine motors and other products, citing “national security” as a reason, it has been learned.
With the global trend toward decarbonization driving a shift toward the use of electric motors, China is believed to be seeking to seize control of the magnet supply chain and establish dominance in the burgeoning environment sector.
China is estimated to hold an about 84% share of the global market in #neodymium magnets and an over 90% interest in #samarium #cobalt magnets.
If China bans the export of such technologies, it would be difficult for the United States and Europe, which do not traditionally manufacture rare earth magnets, to newly enter the market, thus making those countries totally dependent on China, according to a European source
https://japannews.yomiuri.co.jp/world/asia-pacific/20230405-101753/