ICYMI - Wall Street Journal: "Ford Still Scrambling to Get Rare-Earth Magnets" ...Middle East

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Looks like the flinging around of missiles and what have you might slow down ... back to the supply chain stuff!

The Wall Street Journal (gated) carried a report on Monday, US time, about major auto manufacturer Ford still struggling to access magnets made with rare-earth elements to use on production. In brief:

“It’s hand to mouth—the normal supply-chain scrambling that you have to do,” said Lisa Drake, a vice president overseeing Ford’s industrial planning for batteries and electric vehicles.... The situation has improved, but the company still needs to “move things around” to avoid manufacturing shutdowns Ford in May stopped production at a vehicle factory in the Chicago area because of a magnet shortage. China in April began requiring companies to apply for permission to export magnets made with rare-earth metalsChina controls roughly 90% of the world’s supply of these elements, which help magnets to operate at high temperatures. Much of the world’s modern technology, from smartphones to jet fighters, rely on these magnets.

More at that link above if you can access the Journal.

This article was written by Eamonn Sheridan at www.forexlive.com.

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ICYMI - Wall Street Journal: "Ford Still Scrambling to Get Rare-Earth Magnets" ...Middle East

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