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Recently Raw Material Situation of Rare Earth Magnets

In the past 2 weeks, there is an interesting change happened in the price for raw material of Rare Earth Magnets -NdFeB(Neodymium Iron Boron) magnet and SmCo(Samarium Cobalt) magnet that the price for PRND which is the key raw material for"N" grade NdFeB magnets has stoped going down and already increased from RMB1015000 to RMB 1130000RMB.Price for raw material of magnets that with high coercivity and high temperature resistance like DYFE and Tebium has also rebouded while the price for another key raw material for smco magnet "CO" has kept going down which is an opposite trend compared to NdfeB magnets. For more details,please find below price trend:

Rare earth permanent magnet materials have outstanding properties and broad application prospects.

Benefiting from the rapid development of new energy vehicles and electronic industry, rare earth permanent magnet materials (NdFeB) account for 35% of the global rare earth consumption, corresponding to 91% of the consumption value. It is the application field with the highest proportion of rare earth consumption and consumption value. The main purpose of rare earth permanent magnet is motor. Compared with traditional asynchronous motor, the permanent magnet synchronous motor with rare earth permanent magnet material has the advantages of high efficiency, high power factor, high power density, low temperature rise and high reliability, and has better energy-saving effect. Compared with low-end magnetic materials, high-performance NdFeB magnets has better performance, higher technology and capital access threshold, and has broad application prospects in the future.

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