The row about rare Earths

Rare-earth elements are key to applications as varied as traction motors, catalytic converters, and wind turbines, but high prices and supply shortages have the auto industry grappling with design changes and other alternatives.

Not too long ago, rare earths were little-discussed minerals that occupied an obscure row of the Periodic Table of the Elements. Nowadays, neodymium, dysprosium, praseodymium, and other rare-earth elements (REEs) are globally traded market commodities that command high prices and can be in short supply.

That's because when it comes to making magnets and other high-performance products, REEs have almost alchemical abilities. Add neodymium to iron and boron, do some special processing, and presto! You have the strongest permanent magnet ever. Add in a few weight-percent of neodymium's much-rarer cousin, dysprosium, and the magnet will operate at high temperatures and resist losing its magnetism for longer.