Congress moved on two magnet-chain fronts in 48 hours

On June 8^th, the House passed H.R. 7037, the DOMINANCE Act, giving statutory backing to America’s allied critical-minerals architecture; on June 9^th Reps. John Moolenaar (R-MI) and Ro Khanna (D-CA) introduced H.R. 9227, the Magnets Value Chain Support Act of 2026 – the first federal incentive framework spanning the permanent magnet chain from oxide processing to OEMs.

The bill creates a Section 45BB production credit tiered by domestic content: $5/kg for oxide sold into eligible downstream steps; $15/kg for magnet metal at 75% U.S. or partner-country inputs, rising to $25/kg at 90%-plus U.S.-produced; NdFeB magnets $20/kg and $30/kg at the same thresholds; advanced high-performance grades $33/kg and $40/kg. Rare earth-free magnets meeting performance floors – 2 kOe coercivity at 150°C, 0.8 Tesla remanence – qualify at $20/kg, bringing iron nitride into federal eligibility for the first time.

All tiers exclude inputs linked to prohibited foreign entities; producers elect between 45BB and the existing 45X. Partner-countries: NATO allies, Japan, Australia, South Korea and Mexico. A companion 45CC credit pays OEMs building motors, generators, robotics, defense systems and UAVs up to 15% of the purchase price of domestic magnets, phasing out by 2039. Claimants must keep 3% of annual capacity unencumbered for Defense Production Act priority orders, waived for early-stage producers. Endorsements run the length of the chain: MP Materials, Vulcan Elements, eVAC Magnetics, Niron Magnetics (pursuing a 10,000 tpa U.S. iron nitride plant), the Alliance for Automotive Innovation, NEMA and SAFE.

희토류 시장 월간 보고서

산화물, 금속 및 NdFeB 가격 평가, 시장 분석 및 데이터

 

아다마스 가격 평가

MSP has already evolved into FORGE

The DOMINANCE Act, led by Reps. Young Kim (R-CA) and Ami Bera (D-CA), codifies the Minerals Security Partnership under a State Department mandate, authorizes multi-year Energy Security Compacts aligning federal agencies and development-finance institutions with partner governments, and creates an Assistant Secretary for Energy Security and Diplomacy heading a dedicated State bureau.

Codification lands, as the MSP has already evolved into FORGE, launched at the February 2026 Critical Minerals Ministerial with 55 delegations and chaired by South Korea through June; the statute stops a future administration from winding down the framework unilaterally. DOMINANCE now moves to the Senate; the magnets bill sits with House Ways and Means.

아다마스의 견해:

Together the two bills form the most complete U.S. magnet-policy stack yet: supply-push production credits, a demand-pull purchase credit and durable diplomatic architecture, all bipartisan. Section 45CC is the structural novelty – every prior magnet bill stopped at the supply side, leaving motor and generator OEMs to carry the ex-China magnet premium alone. A 15% purchase credit changes procurement math for manufacturers slow to qualify Western suppliers and closes the demand loop upstream credits cannot.

The $30–$40/kg credit for advanced sintered NdFeB helps reduce the Chinese-allied price gap, putting a well-positioned domestic chain closer to cost parity. The binding constraint is the 90%-domestic-REO threshold at the $25/kg metal tier – Dy and Tb for grain-boundary diffusion remain overwhelmingly Chinese-sourced, so early top-tier beneficiaries will skew to low- and zero-HREE magnets. RE-free magnets at $20/kg admit iron nitride without picking winners, while the performance floors keep ferrite out.

DOMINANCE’s value is durability – statute is harder to unwind than an executive-order coalition. Energy Security Compacts, if negotiated and funded, could supply the sovereign demand signal that makes partner-country separation and metallization projects financeable.

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