Because of the products that rare earth metals are used in, makes them vital and extremely necessary to source. They never used to be mined so easily but with technology today, extracting them and smelting them into exactly the use we need them for has become much simpler.
So what are rare earth metals and what are they used for?
For starters, even though they are abundant within the earth’s crust they are only found in specific locations. They are not spread out around the world which means that only a few countries control these metals. The main country that controls this market is China. It is estimated that China control over 90% of the metals and export much of it, though there has been plenty of debate as to how little the percentage of the exports China is exporting to foreign countries in relation to what China actually produce. Basically what this means is they can control the market prices, as well as decide how much they want to export.
There are numerous uses for these metals, and in particular they consist of catalytic, electrical, chemical, metallurgical, nuclear, optical or magnetic. These 7 uses that we just listed give a very good indication as to why they are used so often in high technology products. An example of the types of products that they are used for include batteries, computer and smart phone screens, colour in TV sets and for use in wind turbines. One of the main things that give them this use is the magnetic fields that can be generated from the conversion of the metals. One major use of these magnetic fields and magnets is in hybrid cars which are going to become more and more important as time passes.
Investing in rare earth metals
There are many different investment firms that can help you get started with investing in rare earth metals. These investments can be extremely lucrative if done right and chosen properly. Some metals are only going to become more important and thus have their value increase over time. It is just as important to find the right investment company that can help you do things such as learn how to trade, chat with an expert or even get started and open a trading account right away. With the increasing importance of rare earth metals you should start now if you’re on the edge.