Dynamic supply and demand model integrated with TEA

CMI researchers at Ames Laboratory and Purdue University conducted the research for this highlight

Innovation
Incorporating market dynamics of critical materials into a techno-economic analysis (TEA) framework. 

Achievements

  • Applied a mechanical oscillator model to physically interpret and model the REE market price dynamics.
  • Incorporated Oscillator model into existing TEA framework and applied to an innovative acid-free leaching process for hard disk drive (HDD) value recovery.

Significance and Impact

  • Unlike mainstream price estimation methods primarily based on statistics, this study explored price dynamics by analyzing the underlying supply and demand factors.
  • Proposed oscillator model can simulate extreme events that are hard to manifest from conventional time-series analysis.

Hub Goals Addressed
Foster collaborations across different focus areas; Promote the application of crosscutting research in facilitating the industrial deployment of CMI technologies.

line graphs show dynamic simulation of REE price over the next 20 years, in reaction to a gradually increasing trend of demand and unstable supply chains
Dynamic simulation of REE price over the next 20 years, in reaction to a gradually increasing trend of demand and unstable supply chains