US Takes a Big Step In Breaking China’s Magnet Dominance

The US is looking to break China’s dominance in the rare earth magnet sector and put an end to its powerful monopoly. The latest development in tackling China comes after the Florida-based alloy manufacturing firm REalloys signed a strategic agreement with South Korea’s magnet manufacturer JS Link to develop and build the first fully integrated non-Chinese rare earth magnets. The deal is to bring together feedstock, separation, metallization, and permanent magnet manufacturing under a single North American industrial strategy.

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US Takes on China in Rare Earth Magnets

Magnets are the most potent commodity in ensuring military, industrial, and robotic power. Permanent magnets are heavily used in power-guided missiles, fighter aircraft, submarines, industrial robots, electric vehicles, AI infrastructure, and wind turbines, among others. China overwhelmingly manufactures the majority of the rare earth magnets and has put the US on the back foot. Beijing enjoyed extraordinary leverage over the market, making the US, Europe, and the world dependent on its pricing. The US is now looking to break its supremacy in the sector.

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