In 2017, rare earth material price has been rising steadily with the further advancements of China's rare earth industry consolidation. Since the beginning of 2017, the cumulative growth of neodymium praseodymium oxide (iconic rare earth product) average price is 43%. And the upward trend of this material markedly accelerated since June, contributing more than half amount of increase in less than two months.
In 2010, a wave of price surge had happened in rare earth price. But after that, influenced by overcapacity and illegal production in industry, rare earth market price swing down. Since 2011, rare earth prices had retraced about 80% from the top level.
Seen from the industrial research of the downstream application of rare earth, for nearly half of the rare earth were used in permanent magnet industries. And the most important raw material of permanent magnet industry is iconic rare earth praseodymium neodymium magnet products.
At present, rare earth permanent magnets have been widely applied in the field of new energy vehicles and so on, in the first half of the year the production growth of rare earth permanent magnet enterprises is 10% to 30%. Rare earth permanent magnets are raw material of key components of missile weapon and other military equipments.
Tags: neodymium rare earth magnets, rare earth permanent magnets, China magnet
