High Rare-Earth Prices Force Hitachi Metals, Toyota to Find Alternatives

Bloomberg reported that buyers of rare earths in Japan are seeking supply of the raw materials from sources other than China.

The market news is quoted as saying:

Dysprosium and neodymium, used in automotive and wind-power applications, soared more than threefold since May to $3,500 per kilogram and 62 percent to $450 a kilogram respectively, according to Sojitz data. Trading houses Sojitz and Sumitomo Corp. import most of Japan’s rare-earth requirements.

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