Everything You Need to Know About Magnet Price

A kilogram is used to describe the weight of an item, and items that are priced in weight are usually raw materials. For example, the rare earth raw material praseodymium metal is CNY750/kg, dysprosium iron alloy is CNY2700/ kg. Also, when people who specialize in recycling magnet scrap, the unit of measurement is kilograms.

Our permanent magnets are metal parts that need to go through a series of simple or complex processing procedures to be made, so the price of magnets cannot be measured in kilograms.

When a customer says “I need a magnet price per kilogram”, we usually reply that our magnets are custom made and the price of magnets varies with different requirements.

What Specifically Determines The Cost of A 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.

And magnets 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 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.

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.

Related read: How to Control The Cost of Neodymium Magnets for Product Development

Magnet materials include NdFeB, SmCo, AlNiCo, ferrite and soft magnetic materials. The cost of different magnet materials varies greatly from one to the other. Here is an approximate guide as to what magnets cost.

On a cost-per-pound basis, Neodymium magnets seem very costly. However, on a cost per BHmax basis, they do not seem so costly. Often by using a more powerful magnet, the entire device that the magnet goes into can be miniaturized, yielding cost savings that favor the more powerful magnet materials.

There are many channels on the market that can buy magnets. When you search for magnets in Google, you get thousands of purchase channels.

But where is it easier to buy? And how can I order the most suitable rare earth magnet? Is there any magnet purchase guide? Please read more from Where to Buy Magnets – Magnet Factory or Online Magnet Store?

First of all, you need to confirm what magnet you need, including material, shape & size, plating, magnetizing direction, working temperature, etc. If you have no idea what magnets you need, you can contact the magnet supplier directly and tell them your application requirements. An experienced magnet engineer can guide the customer in the selection of the best magnet material and help product design.

High grade magnets are more expensive than low grade magnets, so choosing the most suitable magnet will also reduce the purchase cost a lot. For example, to find a magnet with balanced size and tension, you may need to work through a variety of magnets with different sizes and properties, but by getting help from a experienced magnet supplier directly, it may be possible to reduce the testing process of many magnet prototypes and speed up product development.

Ordering magnets from China also requires consideration of how strong industrial magnets are shipped. Permanent magnets, especially NdFeB magnets, are very strong, which increases the difficulty of transportation. However, after the magnetic insulation packaging treatment, and after passing the outer box magnetic testing by professional testing organization, they can be shipped by sea, air and express like other goods.

The magnet itself is heavy, and after anti-magnetic packaging, the weight increases even more. It is recommended to ship the goods over 100kg by sea, so that the shipping cost will be cheaper. The final choice of shipping method requires a combination of two factors: delivery time and shipping cost.

Moreover, we need to consider the tariff of each country. In addition to import tariff in EU, there is also 19% VAT. You need to consult your local freight forwarder for details. The rates of duty in USA is 2.1%, and the HS code for magnets is 8505.11.00, which can be checked on the HTS Search website.

Related read: 6 Tips To Choose Right Magnet Manufacturers

This is one of the most common questions asked by our customers, who are usually overseas magnet traders and online stores.

We will be happy to provide pricing for any permanent magnet, but there is no price list, neither disc neodymium magnet, nor block samarium cobalt magnet.

here`s why?

We are not magnet store or magnet shop online and don’t have magnet price list.
The price of raw materials for magnets is influenced by the general environment and price fluctuations are more frequent.
As magnet manufacturer, we only stockraw materials, but not magnet. We will arrange magnet production only after our customer places a magnet order.
Magnet is not standard hardware. All our strong magnets are customized according to clients’

We offer factory direct pricing for bulk orders of magnets and are happy to customize unique magnet samples for your research as well. When you need strong magnet price, in order to get magnet price quickly and accurately, please provide as much detail as possible based on the following tips:

This depends on the price of which magnet material it is. Compared with rare earth magnets, ferrite magnets have a long price validity period because they do not contain rare earth components. The price of rare earth magnets, on the other hand, fluctuates frequently due to the price of rare earth raw materials. Also the price difference between the off-season and the peak season is relatively large, generally the magnet price is lower from May to September, while the magnet price is higher from November to March.

Rare earth market is hard to predict. Myanmar is the main production area of heavy rare earths, so the turbulent situation in Myanmar also leads to a continuous sharp increase in heavy rare earth prices. Customers who purchase magnets in large quantities on a regular basis will need to negotiate with their suppliers on exactly how to lock rare earth magnet prices for the long term.

Related read:

Rare Earth Magnets China To U.S. Under Trade War 2019
Rare Earth Magnet Price Hit by Trade War?
Permanent Magnet hit by US Tariffs?
Magnet Suppliers Need To Raising Magnet Price & Why?

To maintain the long-term validity of the rare earth magnet price, magnet supplier may need to additionally specify the range of price changes in raw materials and exchange rates. For example, if the price of raw materials fluctuates within 10%, if the exchange rate of RMB to USD changes within 3%, the price can be maintained; if it exceeds this range, a re-quotation is required.

Purchasing raw materials in advance is a another good way to lock magnet prices. For example, we have a US customer who asked us to help prepare raw materials needed for 2 years in advance when the market was very cold in early 2020 because of COVID-19 epidemic. This year his magnet inventory helped him avoid the magnet price hike frenzy that started in late 2020.

As a professional manufacturer of rare earth magnets, we are also working hard to optimize our production process to reduce the cost of magnet production. China Magnets Source is committed to providing magnets at reasonable prices to make your products more competitive in the marketplace.

Contact China Magnets Source to discuss what magnet your project needs and get bulk discounted price for magnet.