Hitachi Metals Aims to Block Competitors’ Rare Earth Magnet

Bloomberg reported that Hitachi Metals has filed a complaint to block US import of competitor’s rare earth magnets to be used in electronics.

As quoted in the market news:

Hitachi Metals, based in Tokyo, said in the complaint it has an agreement to make the magnets with Molycorp Inc., (MCP) the owner of the only rare-earth mine in the U.S., and plans to begin production in 2013.

Companies named in the complaint objected, saying any import ban would harm public health because the magnets are used in robotic surgical systems, radiation equipment, surgical microscopes and insulin pumps.

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