RARE EARTHS
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.
LATEST UPDATES
We’ll show you the latest updates about raw materials trend relating to magnets; we also want to thank you all for trusting us during this year, wishing new professional collaboration this new year.
2023 opens on a positive note as regards Cobalt prices which have already begun a progressive decline since December; a slight drop in recent days is also seen in the price of Dysprosium, contrary to that of Neodymium which is rising again.
The euro-dollar exchange reopens the year above the level of 1.065, after slipping from the relative highs of 1.072. The possibility of constant and lasting increases is becoming concrete, with a possible return towards 1.08 already in the first month of the year.
Regarding transportation, especially the maritime market is currently facing high inflation caused by the pandemic, the Russian invasion of Ukraine and rising energy costs.
Major ocean carriers are trying to limit the influx of capacity to stabilize rate levels. After mid-2023, however, the new IMO environmental regulations first impacts will also be noticeable (the regulations are made to improve international maritime transport safety and security and to prevent marine pollution caused by ships). The impact of these new regulations on import and export maritime transport will have to be analyzed.
On the other hand, about air transport front, the reduced volumes herald a very contained peak season in air freight transport, outlining the recovery of the hold capacity which is sufficient to satisfy the current levels of demand. Fares are slightly below last year’s levels, despite rising fuel prices.
We remind you that on January 22nd will be celebrated in China and Asia the New Year; therefore on the occasion of this holiday there could be some slowdowns in production and deliveries as early as next week.
In consideration of probable increases in raw materials and persistence of transport situation, we recommend to buy magnets as early as the end of 2023 in order to reserve production and not risk sudden increases and delays in deliveries.
Our Sales Department remains at your complete disposal to help you plan your next magnet purchases, which can be contacted at info@garnetitalia.com
Below is showed the main raw materials update prices used for the production of 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:
Cobalt:
