Cost of Neodymium Permanent Magnet Raw Material Is Going Up Now
The government departments, including Ministry of Industry and Information Technology, have issued declaration jointly to carry out special action to suppress violations about rare earths nationally based on the previous preliminary reorganization since December, 2016 to April, 2017. The action plans and requirements include: ban illegal rare earths mining, remediate illicit minerals processing on the name of comprehensive utilization, regulate rare earth magnet trading, and track the sources of cheap exporting commodities.
The MIIT will set up the rules of Blacklist of the Industry, and those illegal and banned companies that founded in this action will be investigated and punished and its unlawful behaviors will be recorded into National Information Sharing Platform. And later these records will be the important reference factors of the company’s running, loaning, IPO, ranking and so on.
According to the statistics of customs, the exportation of rare earths reach to 31300 tons, which increased 53.8% on year-on-year basis, with the price decreased 39.2% of $7.33/kg. Considering the rare earths export for extremely low price without barrier on trade restrictions, as well as the trend of Americans Trade Protectionism, this action is imperative for this industry. And as various government departments paid much attention on this policy, the intensity of reforms is expected to exceed the past. As proved, the effect of this action is overwhelming and it takes effects preliminarily. In the recent week, the offer of rare earths has increased more than 5 percent in many trading institutions, and it is predicted that the price will keep rising in the future.
If everyone has actual demand of neodymium permanent magnet, China Rare Earth Magnet Limited suggests place order in advance due to the upward trend of material price.
China New Year Day holidays and Spring Festival 2017 are in January. Spring Festival is the most important festival in China. As a magnet manufacturer, most of our workers will be back to their hometown and the production has to be closed for about 15~21 days by that time. So the manufacturing cycle of permanent magnet orders will be postponed greatly. If possible, it is better to place an order in advance.
Tags: Rare Earth Magnet, Permanent Magnet China Magnet, Magnet Manufacturer
China Rare Earth Magnet Limited manufactures neodymium permanent magnets in different shapes and sizes, with different coatings, can customize as per drawings or actual samples.
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