Initial lack of support and indifference from the EU over Biden's new China tariffs may soon have to harden to action.
The EU was already well advanced towards reaching its decision whether it should increase Chinese EV tariffs from the existing 10%, to avoid decimation of its own auto industry by the looming tsunami of ultra-cheap, China-subsidized EVs.
The problem now is that the Biden closure of the US EV market to China inevitably diverts the focus for China's surplus EV dumping to the EU. It now seems obvious that "Brussels will have to act quickly, either to put its own tariffs in place or to accept a flood of Chinese-made products". UK will almost certainly follow suit after the usual 3 years of in-fighting and delay.
Looking at some of the commentary around "what will China's response be", the consensus is that it will be measured, targeted and fairly quick. The damage to US - China trade balance from the new tariffs is about $18bn, so China is likely to go for equivalent cost retaliation, but may choose to hit "pain points" specific to US and EU which don't cause collateral damage or alienate China's other markets.
Given that permanent magnets are No.2 on the list of items the US critically depends on China for supply (77%) and the EU is similar, China may well do to permanent magnets what it did in August last year with gallium and germanium exports, - drastically restrict export quotas/shipments to the west.
If this happens, there will be a chaotic scramble to buy up and lock-in non-China sources of magnets and magnet materials, with rampant stockpiling - and NdPr prices will take off accordingly.
IMO ONLY DYOR ect ect
- Forums
- ASX - By Stock
- NdPR price
Initial lack of support and indifference from the EU over...
- There are more pages in this discussion • 37 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LYC (ASX) to my watchlist
(20min delay)
|
|||||
Last
$6.63 |
Change
-0.030(0.45%) |
Mkt cap ! $6.197B |
Open | High | Low | Value | Volume |
$6.70 | $6.70 | $6.63 | $23.51M | 3.535M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 130869 | $6.62 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.63 | 36336 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 120449 | 6.620 |
3 | 17486 | 6.610 |
11 | 25615 | 6.600 |
9 | 160983 | 6.590 |
1 | 350 | 6.580 |
Price($) | Vol. | No. |
---|---|---|
6.640 | 6080 | 2 |
6.660 | 9842 | 1 |
6.670 | 1700 | 1 |
6.680 | 16221 | 2 |
6.690 | 12521 | 1 |
Last trade - 16.10pm 06/06/2024 (20 minute delay) ? |
|
|||||
Last
$6.65 |
  |
Change
-0.030 ( 0.03 %) |
|||
Open | High | Low | Volume | ||
$6.70 | $6.70 | $6.65 | 1033907 | ||
Last updated 15.59pm 06/06/2024 ? |
Featured News
LYC (ASX) Chart |