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Price of the very, very precious metals is skyrocketing
derryb
Posts: 36,212 ✭✭✭✭✭
Tech industry braces for skyrocketing rare earth prices.
"China is the only country that has a complete supply chain for rare earths from mining, to refining, to processing. As of last year, it controlled 55% of global production capacity and 85% of refining output for rare-earth elements, according to commodity research specialist Roskill. In January, Beijing hinted that it could introduce tighter controls exports, sparking higher prices."
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This is not a good situation for the U.S. markets.... vehicles, electronics... and the market will become more expensive due to recent geopolitical changes. Cheers, RickO
What exacerbates the materials problem is a huge increase in demand. Beyond the chip crisis the amount of electronics in cars and everything else has lead-times on even some basic components out to 8-10 months. I've been in the electronic component manufacturing and distribution business for 40 years and have never seen lead-times stretched out this far. On top of that almost all of these components are sourced in Asia. Transportation cost have tripled.
@pmh1nic... This is indeed a sad situation - availability, cost, transportation.... This will only get worse in the immediate future. Cheers, RickO