Many customers ask what is the price per kilogram of magnets? In fact, the price of magnets is not calculated by weight. Then which aspects determine the cost of magnet?
It is well known that rare earth metals are the main raw material for producing rare earth magnets. The high proportion of rare earths such as praseodymium, neodymium and dysprosium iron lead to the magnet manufacturers are greatly affected by the fluctuation of rare earth prices.
However, magnets are customized hardware products as well, which need to go through multiple mechanical processing to reach the desired size and shape; meanwhile, magnets are brittle materials, which are more difficult to be machined. Therefore, mechanical equipments and processing experience also affect the price of magnets.
Specifically, the main production cost structure of magnets includes three parts: direct material, direct labor and manufacturing cost. According to the China magnet industry data, the approximate cost percentage range of neodymium permanent magnet, for example, is as shown below:
In addition, different magnet manufacturing companies have their own costs due to their production model and scale. For example, R&D costs, operating costs, management costs, financial costs and other gray costs. Due to the high competition in the China magnet industry, the prices of low-end, simple shape magnets are more transparent; the prices of high-end, complex shaped magnet products vary significantly from one company to the other company.
You may wonder who buys magnets by weight?
People who specialize in recycling will buy magnets by weight. Generally, these magnet are the recycled discarded magnets. Actually the price in kilograms is the raw materials of magnets, such as praseodymium metal and dysprosium iron alloy.
If you want to get the NdFeB magnet price trend/chart, the most direct way is to ask the magnet supplier, or follow the raw material price trend online.