Analysis of the Trends in Rare Earth Metal Materials in 2022

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Based on my many years of experience in the rare earth permanent magnet industry, the prices of praseodymium and neodymium – the main rare earth elements used in neodymium-iron-boron strong magnets – are still rising sharply. On the first day of production this year, their price increased by 35,000; it is now approaching 1.2 million. Moreover, the prices of high-temperature resistant samarium-cobalt magnets and aluminum-nickel-cobalt magnets have also risen significantly due to the increase in the price of electrolytic cobalt, which was 320,000 last year but is now 510,000. Looking at the situation on the first day of production this year, especially since the rare earth companies in Ganzhou in the south and Baotou in the north merged under a single entity that now controls pricing decisions, it is likely that prices will continue to rise sharply at least until June. It is estimated that the final price of praseodymium and neodymium metals will be around 2.3 million, while the price of electrolytic cobalt will be around 600,000. This post merely represents my own predictions regarding industry trends; I welcome colleagues to discuss these ideas together. Wishing everyone a happy New Year and success in their business