Rare earths are a group of 17 chemical elements of the periodic table considered strategic material for the production of permanent magnets used in many industrial sectors.
In particular, sintered neodymium magnets (NdFeB) are the most popular on the market.
The alternative magnetic materials available can be samarium-cobalt, compressed plasto-neodymium and injected plasto-neodymium (bonded and injection molding), also available on ferrite base, and magnetic materials in aluminum-nickel-cobalt (AlNiCo).
At the following link you can visit Garnet China website, our Chinese branch office based in Ningbo: Garnet China.
Neodymium and Iron prices are slowly and continuously decreasing, as opposed to Cobalt price which is increasing again after a slight decline.
The euro-dollar exchange rate (EUR/USD) is recovering slightly after the sharp declines of recent days which saw it reach new relative lows below 1.055.
About shipping, demand was still low after the Lunar New Year holiday. Despite this, the rates remain fixed and stable.
Air freight volumes also remain low year-on-year; in fact, after the Chinese New Year, no notable growth was observed.
A recovery of the market is assumed around the second half of 2023, with the consequence, however, of an increase in long-term tariffs.
We recommend careful planning of magnet requirements (already until the end of 2023) to freeze prices at current tariffs and to ensure punctual deliveries.
Our Sales Department remains at your complete disposal to help you plan your next magnet purchases, which can be contacted at email@example.com
Below is showed the main raw materials update prices used to produce rare earths magnets. The cost of permanent magnets as a finished product is inevitably influenced by the trend in the price of raw materials, indicated in RMB / Ton in the following graphs.
Praseodynium – Neodymium Alloy:
Dysprosium – Iron Alloy: