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.
As anticipated last month, 2023 opened positively regarding Cobalt and Dysprosium prices which have already begun a progressive decline since December.
Neodymium price is also positive, in fact after an increase in the first weeks of the year, gradually began to fall.
The euro-dollar exchange rate (EUR/USD) has recovered after the sharp declines of recent days. The current technical scenario remains particularly uncertain and does not permit to design a clear trend line for short term.
As for shipping, against all expectations, demand remained low after Chinese New Year; sea carriers have therefore proposed the cancellation of some Asia-Europe voyages to increase capacity and keep current rates stable, which are gradually decreasing.
On the air transport front, volumes remain low but overall capacity is sufficient to meet current levels of demand.
However, the reduced costs of maritime transport are directing buyers choices towards transports by sea instead of air transports.
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 firstname.lastname@example.org
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: