Hatch says the price of neodymium, the key rare metal used in producing the magnets, has gone up by a factor of ten over the past 12 months, while the magnets have risen from about $40-$50 per kg to $250-300.
Neodymium price rises have been higher outside China, but even in the Asian giant, where supplies are currently mined they have increased sharply since the beginning of February — and magnet prices have also shot up.
Crucially,
