The Update on The Magnet Industry2024/04

Highlight of the Month   ◎ Jerry Yang, COO

After experiencing several months of downturn, rare earth mineral prices have shown signs of stabilization and rebound this month. From the perspective of procurement, this presents a favorable opportunity for purchasing components. However, even though there seem to be signs of recovery in the bicycle markets of Europe and the United States, at this point, we have yet to fully grasp the reasons behind this rebound. Whether it is driven by market factors or political influences remains uncertain. The extent and speed of this rebound are closely tied to the primary reasons, prompting us to closely monitor and patiently await clarity.

This month, I would like to offer two perspectives for reflection on the intertwined supply chains of rare earth minerals, permanent magnets, and green energy technology.

The first perspective concerns the dimension of space, more specifically, the dimension of power space. In the atmosphere of escalating trade wars and rising nationalism in various countries, it is undeniable that the Western world, led by Europe and the United States, understands the significantly increased risks of depending heavily on critical raw materials for a single country. Moreover, these risks are not only economic but also environmental and political.Behind the discourse of green energy technology and environmental protection lies an assumption of an imagined global community, which emerged in the 18th century, giving rise to cosmopolitanism and subsequently leading to the establishment of numerous international organizations. Today, environmental issues such as global warming impact the survival of humanity, reinforcing the necessity of cosmopolitanism and giving birth to the concept of carbon rights.

The negotiation of carbon rights constructs a competitive stage that is both new and old, where the tension of geopolitics not only hinders the development of green energy technology but also represents the ideological competition between cosmopolitanism and nationalism. The risks of the supply chain ultimately represent just the tail end of the turbulence. What we must contemplate is, "Whose version of this defined 'COSMOS' is it? And how is redefinition possible?"

The second perspective concerns the dimension of time. In the 1930s, artificial permanent magnets such as Alnico and ferrite were successively invented and produced, followed by the emergence of rare earth magnets in the 1960s, which were widely used in industry until the 1980s. Rare earth elements began to be regarded as key elements of magnetic materials, and it was the well-known Manhattan Project that allowed rare earth elements to be independently separated, enabling more refined formulation and testing in materials science.

AI technology brings new imagination and development to humanity, and this is also happening in the magnetic materials industry. The Magnetic Multiscale Modeling Suite (MaMMoS) attempts to find more cost-effective and less rare earth element-intensive new magnetic materials through AI and simulation experiments. In the current era where sintered neodymium magnets has almost monopolized magnetic material applications for nearly 20 years, the application of AI in materials science may bring about a different development from the past one hundred year, potentially compressing the time frame of technological progress.

The dimension of power space and the dimension of technological time are the takeaway points for readers this month. Recognizing the political nature of technological objects allows us to find a stable reference point amidst rapid changes. May intellectual clarity guide us safely through the turmoil.

Be the first to know the latest news in the magnetic materials industry.
Subscribe now!