Currently, as focus of attention in the market, price of rare earth permanent magnets, again, rises significantly. Analysts indicate that there are two main reasons for dramatically increasing price in a short time. On one hand, influenced by fast price jump of rare earth metal, permanent magnet manufacturer, with strong cost transferable ability, have to moderate price of neodymium permanent magnets. On the other hand, development of new energy automobile and its increasing demand guarantees modest price growth of magnetic products in the future.
Actually, this year, domestic new energy automobile industry has maintained rapid development. According to latest data released by China Automotive Industry Association, China sold 56000 new energy cars in July, with its year-on year growth by 55.2%. Also, in the first 7 months, 251000 new energy vehicles were sold, with year-one year growth by 21.5%.
Price uptrend of rare earth metal is pushed by continuous demands of new energy automobile, which brings investing opportunity to magnetic material area. Affected by crackdown of illegal mining, supply of rare earth is under great pressure. So far, upstream suppliers of neodymium oxide and praseodymium oxide are taking wait-and-see attitude, which results in shortage in downstream. Meanwhile, price rise of upstream raw material is now affecting downstream magnet manufacturers in China. Some neodymium magnet suppliers adopt daily price quotation, implying scarcity of raw material. In the future, downstream suppliers will benefit from long-term development of new energy automobile and magnetic consumption (neodymium permanent magnetic material) will have foreseeable continuous high growth.
Tags: neodymium magnet, rare earth magnet, permanent magnet, magnet manufacturer, China magnet
China Rare Earth Magnet Limited manufactures neodymium permanent magnets with good quality and competitive prices.
回复删除