Raw material prices
Industry has to pay more for rare earths
The economy is dependent on the raw materials. Chinese export controls have consequences.
German industry has to dig deeper into its pocket for rare earths. The raw materials, which were important for many products from electric car to the wind turbine, were almost 9 percent more expensive in the second quarter than in the first, as can be seen from data from the Association of Bavarian Economy (VBW).
Terbium, which is used, among other things in powerful magnets, semiconductors, was more expensive, by almost 28 percent, YTTRIUM, which is important for high -performance ceramics, around 17 and gadolinium, which also include magnets, by 15 percent.
“The current uncertainty becomes clear here,” says VBW general manager Bertram Brossardt. “The Chinese export controls for rare earths and magnets also drive up the prices. Stability is urgently needed here.”
In the course of the controls that China had imposed with the United States during the escalated customs dispute, the fear of production stops grew in the event of industrial companies, because electric motors and sensors cannot do without the materials.
Gold, which increased by 15 percent by 15 percent, was even stronger than the rare earths.
dpa
Source: Stern
