INDEX AT REOPENING: SIGNIFICANT DROP IN COBALT
Good morning and welcome back after the summer break, which we hope was full of pleasant moments of relaxation and fun
We resume our update on the world of rare earths and the latest market trends.
At the reopening after the European closures, the indices of the main raw materials used for the production of magnets, see a significant drop for Cobalt and instead a substantial rise in the prices of Neodymium and Dysprosium. Attached are the raw material graphs that we receive weekly from Ningbo Garnet so that we can keep an eye on market trends.
We are working with our partner factories to lock in current quotations so that we can gather your requirements for the coming months and enable you to purchase our permanent magnets at more competitive prices than the current market conditions.
We recommend that you submit your forecasts to us up to the first half of 2024 so that we can better plan your rare earth purchases with the factories and then guarantee our stock availability of your magnets to best assist you during the production phases.
We invite you to visit us at COILTECH ITALIA 2023, which will be held in Pordenone on 20 and 21 September, where we will present the latest technical innovations in permanent magnets, as well as customised magnetic assemblies of our own production. You will find us in Hall 6 – Stand A12 ready to welcome you.
See you soon with other important news!
Garnet Srl
Sales Team
