Samarium
Samarium is harvested as a minor component of light-REE streams, yet it underpins strategic technologies. SmCo magnets retain full strength up to ≈ 350 °C, an indispensable property for precision actuators in missiles, jet-control surfaces and down-hole drilling tools. The isotope Sm-149’s colossal neutron-capture cross-section secures its role in reactor control materials, while Sm-153 radioisotopes relieve cancer pain. Only ~4 kt Sm oxide is traded yearly, making defence procurement swings visible in pricing.
Supply Dynamics
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China supplies >90 % of samarium as a by-product of bastnäsite separation; output tracks overall REE quotas.
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Supply risk is moderate. Sm is abundant in light-REE ores, but dedicated separation capacity is limited.
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Western HREE separation plants could lift Sm availability, though most flows still head to China for metal-making.
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Defence stockpiles buffer short-cycle military demand spikes.
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Commercial recycling could exceed 10 % of supply once centralised take-back schemes mature.
Demand Dynamics
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Military and oil-&-gas electronics drive SmCo-magnet offtake; volumes follow defence budgets rather than GDP.
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Growth in extreme-temperature robotics (e-aviation, geothermal logging) adds incremental demand.
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Nuclear new-builds and SMR programmes raise call-offs for Sm-bearing control rods.
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Radio-isotope therapy demand climbs with ageing populations and broadened cancer-care access.
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Magnet-swarf recycling remains technically easy but commercially held back by dispersed scrap streams.