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-0.0008611780916293 -0.000344471236651671 0 0.00172235618325872 0.00275576989321398 0.000172235618325836 -0.00103341370995526 -0.00327247674819149
Stock impact report

Rare earths surge above price floor given to MP Materials [Yahoo! Finance Canada]

MP Materials Corp. (MP) 
super-strong magnets used in EVs and defence equipment, have rallied on firm ?demand and bottlenecks in supply, above a ground-breaking price floor provided by the U.S. ?last year to miner MP Materials. The near doubling of prices over seven months means the U.S. government will not ?have to subsidise MP Materials' output of neodymium and praseodymium (NdPr) as long as it remains above the threshold of $110 per kg. The rally in prices to $123 a kg, the highest since July 2022, will also boost other rare earth companies that Western governments hope will be able to cut reliance on ?top producer China. China dominates the global ?supply chain for rare earths, accounting for 90% of refining capacity and around 70% of mined output. "The price rally has been driven by firm downstream ?magnet demand and deliberate supply management in China," said Neha Mukherjee, research manager for rare earths at consultancy Benchmark Mineral Intelligence. She cautioned that the elevated prices Show less Read more
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