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Shin-Etsu to Hike Rare Earth Magnet Prices

3:19 AM MDT | August 13, 2010 | Natasha Alperowicz

Shin-Etsu says it will increase by an average of 20% the price of rare earth magnets, as of October 1, 2010, on the back of steeply-rising prices of key raw materials, including neodymium and dysprosium. Prices of these elements have been rising because of new mining restrictions and a reduction in export quotas for reare earth minerals by China, the main supplier of these raw materials. The price of neodymium, for example, has risen 2.5 times compared with the summer of 2009, Shin-Etsu says. Meanwhile, the price of dysprosium has doubled since the beginning of...

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