Shown below is the update of the prices of the main rare earths materials used for the production of rare earth-based magnets, indicated in RMB / Ton.
About ferrite magnets, in the last period, the situation is becoming very critical and further increases are expected in the coming weeks, especially with regard to Ferrite.
The huge demand for various raw materials such as steel, iron, cesium carbonate, etc. has created enormous difficulties in the procurement of these materials.
To reduce carbon emissions, Chinese steel mills have decrease their production, thus generating a large demand for raw materials for ferrite; the consequence has been an enormous shortage of these materials and a growing increase in prices.
Currently, cesium carbonate – the main ferrite material – has increased from 5,000 RMB / Ton to 25,000 RMB / Ton and is rising continuously. In May, ferrite raw materials increased by more than 3000 RMB / Ton.
Through our headquarters in Ningbo we are monitoring the situation on a daily basis and we will promptly notify you of any development through our website.
We strongly advise our customers to plan their magnet purchases well in advance to protect themselves from further cost increases and because production and delivery times are also considerably lengthening. Garnet’s Commercial Department remains available to develop personalized magnet purchase plans so that the impact of the new quotes is limited.
The following graphs show the updating of the prices of the main raw materials used for the production of rare earth-based magnets:
Dysprosium Alloy – Iron:
Praseodynium – Neodymium Alloy:
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).