Friday, September 21, 2012

Hitachi Tries To Block Chinese Rare-Earth Magnet Imports To The US

Hitachi to make rare-earths magnets
with Molycorp in the US
NEW YORK (BLOOMBERG) - The US International Trade Commission will investigate a complaint filed by the Japanese Hitachi Metals Ltd. in order to block US imports of competitors's rare-earths magnets used in electronics, golf-ball markers and power tools from China. The debate is about patented inventions related to the manufacture of sintered rare-earth magnets. The complaint is against more than two dozen companies including Chinese corporations that mine or use these materials as well as multinational companies that import or make products containing these rare earths including Scullcandy Inc.Harman International Industries Inc., Bose Corp., Callaway Golf Co., Taylor Made Golf Co., and Adidas AG. Hitachi stated that it and other suppliers will be able to make up for any loss of available products if the concerned rare-earth magnets from China are banned from US market. The Japanese company said to have an agreement with Molycorp Inc., the owner of the only rare-earth mine in the US. Source: Hitachi Metals Rare-Earth Magnet Complaint To Be Probed By US  (Reliability: Medium)

Comment:  Even the US Congress has called for an increase of domestic rare-earth production to decrease dependance on China and combat high prices.

1 comment:

  1. I think the reason that Hitachi is doing this is because of Japan's territory dispute over the Senkaku Islands (known in China as Diaoyu Islands). Some other Japanese companies are threatening to pull their operations out of China for the same reason.