Tech industry braces for skyrocketing rare earth prices

Surging demand and U.S.-China tensions make life tough for hardware makers

20210908 Rare Earth China

China controls much of the world's supply of rare-earth metals, which go into everything from smartphones, to electric cars to medical equipment. © Reuters

CHENG TING-FANG and LAULY LI, Nikkei staff writer

TAIPEI -- Electronic hardware manufacturers are sweating as prices for rare-earth metals surge amid soaring demand and simmering tensions between the U.S. and China, the world's most important source of these vital materials.

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