How exposed is neodymium supply to China's export controls on rare earths?

How exposed is neodymium supply to China's export controls on rare earths?
China controls roughly 75 percent of global neodymium output, the element most central to NdFeB magnets used in EV motors, wind turbines and electronics. That share is high but not absolute: Australian neodymium can already cover US defense demand, so controls bite mainly through price rather than outright shortage. Tesla's response is instructive, building a neodymium magnet recycling line in Shanghai, since recycled magnets cost far less than ore-to-magnet production and recycling carries no Pr/Nd separation barrier. Meanwhile China's grip on gallium, at 98 percent, is far tighter. For neodymium standard solutions, expect price volatility and premium spreads rather than a hard cutoff, with recycling and non-China supply gradually softening the squeeze.