Really not so hard to understand why China's largest HRE...

Really not so hard to understand why China's largest HRE producer shut down for the full month of October:

"*Low heavy rare earth + High Coercive force Magnet
Through the persistent research on component formula and process technology, the micro-structure of magnet has been optimized and the particle size also been largely minimized. All achievements mentioned above make Ketian’s magnet much less reliable to the heavy rare earth material and, therefore, greatly reduced the magnet cost. For now, most of Ketian’s grades are free of or with much less heavy rare earth.

No Dy high performance magnet"

http://en.ktmagnet.com/index.php/product/page/10

"Bring along and cultivating talents. Ketian established the R&D center.the group with a total amount 30 members, purpose on “research leading manufacture,research serving manufacture”, actively develope new product and technology, design and applicate automation equipment. So far, high performance product with no DY and less DY gained widely approval of customers."

http://en.ktmagnet.com/index.php/research/15

Ketian produces 6000tpa NdFeB and quite successfully eliminating HRE, little wonder DyO demand/price is where it is.