Resumen de Lithium, cobalt prices key to neodymium demand
Neodymium offers significant benefits when used in electric vehicles, but factors such as cost and security of supply mean that demand is strongly correlated to the prices of lithium and cobalt. The boom in the electric vehicle sector has already resulted in massive increases in demand for lithium and cobalt for use in batteries, but the trend is also driving demand for neodymium, a rare earth used to make magnets for use in electric vehicle (EV) motors. [...]EV pioneer Tesla Motors initially favored electric magnets in its early vehicles, a decision that was driven in part by concerns about the security and sustainability of rare-earth supplies.
