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).
In the last period, the raw materials situation is becoming very critical and further increases are expected in the coming weeks.
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 update of the prices of the main raw materials used for the production of rare earth-based magnets is shown below, indicated in RMB / Ton in the following graphs.
Dysprosium – Iron Alloy:
Praseodynium – Neodymium Alloy: