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.
Raw materials prices are quite stable but with an upward trend. For this reason, we recommend our customers to plan their magnet orders in advance for not risking further increases in the coming months.
About transport, the situation remains particularly problematic, in particular regarding transport by sea.
Ports currently remain congested, causing repeated delays in goods delivery. The criticality of sea transport is expected to persist in the medium to long term.
In consideration of raw materials imminent risk increases and slowed-down transport situation, we recommend our costumer to plan magnets orders till the end of 2023 in order to book production and not risk delays in deliveries.
Our Sales Department remains at complete disposal to help you plan magnet purchases.
Shown below is the main raw materials prices update used for rare earth-based magnets production, indicated in RMB / Ton in the following graphs.
Praseodynium – Neodymium Alloy:
Dysprosium – Iron Alloy: