By Eric Onstad
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LONDON, Feb 18 (Reuters) – Prices of two key rare earths, crucial for making 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
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