In our last exciting report on the Price of Neodymium it looked like the price per kg of the Rare Earth magnet material had stabilized in the upper 80’s. Another 6 months have gone by and what has happened?
What happened? It may be hard to tell, some articles point (indirectly) to how China’s efforts to restrict the export of rare earth magnets may have backfired on them as they now possess an overabundance of production and markets reducing as hybrid cars reduce their rare-earth usage and the US is set to restrict the usage of rare earth magnets in toys.
Another factor might be the global drop in oil prices, which have resulted in reduced costs across the board.
Will this continue? It is hard to say. One source states that China is continuing to restrict their market production while expressing concern about their drop in the market share. We’re scientists, not market experts, so we cannot say for certain.
Neodymium magnets are used in stereo loudspeakers, TV’s, turbine systems, car parts, science instruments, and even smartphones.