Neodymium Pricing and Availability Notice
The instability of the Rare Earth metals industry in China has escalated to new heights over the past year, severely impacting the production and pricing of Rare Earth magnets, such as neodymium.
We have experienced steady price increases over the past year. The pressures of higher demand and lower supply have caused price increases of 50% during the last week of February 2011. Neither Master Magnetics, nor any other U.S.-based magnet company has control over it.
We will continue to provide the most current information available to you on this page.
As always, you can continue to rely on all of us at Master Magnetics to work with you to meet your needs. We value your business and appreciate your understanding of this unprecedented situation.
Here is a recap of factors that have caused this dramatic increase in pricing for Rare Earth metals:
Foreign factors affecting price and availability
- U.S.A. and China currency exchange rate.
- Chinese Government set quotas and environmental controls on mining RE raw materials (much of which is earmarked to be used in China).
- Chinese Government environmental restrictions on pollution output. Reduction of coal powered factories forcing the use of alternate, more expensive forms of energy to generate clean electricity. Smaller manufacturers have shut down.
- Chinese worker wage increases averaging 25% to 40%.
- High demand. Low supply. Longer lead times. Higher prices.
Informational Links and Charts: