During the 1950s and 1960s, many rare earth metals were created because of their popularity. They were used in different ways at the time. This includes making heating strips on rockets as well as in the creation of display ports on products such as radar scans. These materials were also used to improve televisions. This includes allowing information to be broken down into green, blue, and red colors. The magnets in the TV screen helped to make this possible. The United States was a big leader in using these materials in the past.
These rare earth metals are used in many more ways than just televisions. Though, newer more technologically advanced televisions like plasma and high definition screens do still require the use of these materials in order to work more powerfully and correctly. Military technology companies have continued to be more experimental with these rate metals. This includes using the metals to create new equipment, such as night-vision tools. It is suggested that about three fourths of all of the rare magnets that are sold will end up in the military's use.
The extreme rarity of such metals can make their cost astronomical. Praseodymium, for example, costs nearly $100,000 per ton, compared to approximately $100 per ton of coal. United States exporters have attempted to compete with the Chinese markets that investors look for when planning where to buy rare earth magnets, but have largely failed due to the bottom-barrel price of production. In a few years, China will likely control 99% of the world's production of select metals.....Because these materials are so rare, there costs can be extremely high. This is because so many people are looking to take advantage of these rarer magnets. To get an idea of the costs of these materials, take a look at the following example: A ton of coal usually costs around $100. A ton of praseodymium, one of the metals, costs around $100,000. China continues to be the leader as the producer of these metals. This is because it is extremely cheap for China to produce these materials. The United States has failed to try and compete with the Chinese markets when creating these rare magnets.
Many people continue to try and produce as well as buy these very rare metals because of their popularity ad many uses. With so many new uses, technological advances continue to be made in new ways. It leaves many individuals wondering how exactly these products will used in the future to make better advances that will improve society. It also leaves many people still wondering where to buy rare earth magnets.