2212 GMT - An oversupply of rare-earths oxides is coming as separation plants outpace production of magnets, says Ord Minnett. The U.S. is supporting new magnet plants with government loans. "We expect ex-China magnet capacity to grow from 15,000 tons per annum now to 71,000 tons/annum by 2030," analyst Matthew Hope says. That would represent demand of 21,000 tons of neodymium-praseodymium and 850 tons of dysprosium. However, support for separation plants is accelerating to counter China's monopoly on exports. "The unrestrained buildout of separation plants is likely to boost NdPr capacity by over 18,000 tons/annum to 42,000 tons/annum to 2030," Ord Minnett says. "It appears that NdPr and DyTb will both be oversupplied relative to magnet demand by 1.5-2.0x in 2030." (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

November 27, 2025 17:12 ET (22:12 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.