Neodymium Magnet Price Trend

Wanna know neodymium magnet price trend recently? Just check China rare earth metal Pr-Nd price on the internet, it can only be said that it was on a rocket like the Chang’e-5 probe.

On November 24, the price of praseodymium and neodymium metal rose by 37,000 yuan per ton compared to the previous day. On November 25, the price per ton rose by 50,000 yuan to 557,500 yuan/ton. Compared with the price at the beginning of November, the increase was 33.5%.

Pr-Nd raw material price for neodymium magnet - China Magnets Source

What Is Ppraseodymium Neodymium Metal?

Neodymium praseodymium metal, Pr-Nd for short, is a rare earth metal that is very easily oxidized. It is also an important raw material for neodymium iron boron permanent magnets.

The Proportion of Rare Earth Metals In The Production of Magnets

The cost of rare-earth materials is relatively high on permanent magnet production (some as high as 88.28%, the lowest is more than 50%), so midstream manufacturers of rare-earth permanent magnet are more affected by the fluctuation of upstream rare earth prices. However, large manufacturers in the industry can reduce the impact of rare-earth price fluctuations on their business by purchasing raw materials on a large scale, or by extending the industry chain upstream to ensure the purchase of rare-earth materials at a highly competitive price.

Current Downstream Magnet Demand

Compared with other magnetic materials, NdFeB permanent magnet materials have outstanding advantages in magnetic properties, and have the characteristics of high magnetic energy product, coercivity and energy density.

Therefore, neodymium iron boron magnets with energy saving, high efficiency, small size and light weight can be widely used in emerging technology fields such as wind power generation, new energy vehicles and auto parts, energy-saving inverter air conditioners, energy-saving elevators, robots and intelligent manufacturing, and mobile terminal applications. For example, in 2019, the rapid growth of the TWS wireless headset market has caused the demand for NdFeB magnet to soar.

small disc magnets, strong magnet blocks for TWS wireless headset

At the beginning of the year, the epidemic slowed down some of the market demand, but the demand for many medical products doubled several times. As a kind of respirator that can replace, control or change human physiological breathing, the voice coil motor respirator is widely used in respiratory failure caused by various reasons, and occupies a very important position in the field of modern medicine. Magnetic materials as an essential component on voice coil motor, the growth in demand for ventilators has greatly boosted the demand for magnetic materials.

Although the world was still struggling to deal with COVID19 epidemic, market demand continued to recover. Demand from major customers, which had been interrupted at the beginning of the year, resumed in the third quarter.

Current Upstream Rare Earth Inventory

According to statistics from Asian Metal Database, 38 Chinese PrNd mischmetal producers’ annual production capacity was 78020 T. China’s PrNd mischmetal producers’ inventory down by 22.9% MON in Oct.

Combined with the above analysis, the current round of rare earth price increases are mainly caused by the concentrated outbreak of demand and the serious shortage of spot supply.

China's PrNd mischmetal producers' inventory down by 22.9% Mon in Oct Asian Metal Database

History of Neodymium Magnet Price Trend

Beginning in 2010, due to national regulatory policies, continuous industry mergers and reorganizations, and the growth of market demand, rare earth raw materials have been in short supply and prices have risen sharply.

Just as aftershocks continued after a major earthquake, since then, rare earth prices have fluctuated frequently, which has become a common concern for the global industry. For example, in 2019, after the U.S.-China trade war and President Xi Jinping’s visited to a rare-earth magnet manufacturer, the price of rare earth magnets once again rose rapidly.

China Magnet Manufacturer

China Magnets Source has the production lines for the whole process of NdFeB production, including blank production, machining, and finished product plating, and has mastered the core technologies of blank production and grain boundary penetration technology. At the same time, we have 10,000 tons of sintered NdFeB blank production capacity, which allows us to provide cost-effective high-performance rare-earth permanent magnets to our customers in a long-term and stable manner.

The price fluctuation of raw materials affects the production cost of magnet manufacturers, makes inventory management more difficult, and affects the unit price of magnets. China Magnets Source attaches great importance to the inventory management of raw materials, and actively takes advantage of its capital to maintain a reasonable and sufficient stock of raw materials. We have many years of business cooperation with major suppliers and have established stable supply channels for rare earth raw materials. If you have any needs for magnets, please feel free to contact us by below table for the latest magnet price.

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