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
Surprisingly, after Chinese National Holiday in early October, rare earths prices began to rise again; the end of September and the beginning of October saw a progressive increase Cobalt, Neodymium, Iron and Dysprosium prices.
In this period of raw material costs increase it could be convenient to evaluate alternative technology for “Grain Boundary Diffusion” Neodymium magnets production that we presented at the Coiltech 2022 Fair. You can find an extract HERE
Euro, which had already weakened strongly against the USD last month, is falling again, with a slow decline of € 1 = USD 0.97.
It is expected the situation of European currency could remain unstable for the next months, until the tug-of-war over gas and energy subsides,.
About naval transport and imports from China, the situation in Shanghai port has rather normalized, with exception in Yangshan area, where there are some congestion of the moorings; waiting times are also gradually decreasing in Ningbo.
On the air transport front, again due to the increase in fuel prices and critical situation between Russia and Ukraine, fares are increased for some commercial routes.
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 sales@garnetitalia.com
Below is showed the main raw materials update prices used for the production of rare earth 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:
