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Factors Affecting the Price of NdFeB Magnets

NdFeB magnets are known for their strong magnetic properties and are widely used in various fields, including industry and scientific research. The price of NdFeB magnets is influenced by several factors, which this article will explore.

The Price of Raw Materials

Rare earth is the main raw material to produce NdFeB magnets. In NdFeB magnets, in terms of weight share (wt%), Nd 29%-32.5%, Fe 63.95-68.65%, Boron 1.1-1.2%. Compared to ordinary metals (such as iron), Neodymium is a kind of rare earth metal and is much more expensive. Moreover, Neodymium has nearly one-third of the composition. The change in neodymium price is the main factor affecting the price of NdFeB magnets.

magnetsearcher

Image Source: Magnetsearcher & Sourcemagnets 

Magnet Performance

Neodymium belongs to light rare earth metals, high-grade magnets often need to add heavy rare earth metals. For example, add dysprosium, terbium, and so on. However, heavy rare earth metals are very expensive, thus raising the procurement cost of magnets. If the requirement for coercivity is higher, more heavy rare earth metals need to be added. Moreover, the higher the grade, the more brittle the magnet is, which also pushes up the purchase cost.

Generally speaking, if the grade increases by one grade, the price will go up 5-10%; if coercivity increases by one grade, the price will go up 10-15%. This is the reason why the price of N52 magnets is much higher than that of N35 magnets. Therefore, when purchasing magnets, you need to choose the right NdFeB magnets according to your actual needs, and you don’t need to pursue the high grade of magnets.

Tolerance Requirements

The tighter the tolerance requirement, the higher the processing cost. At the same time, the stricter tolerance requirements mean that the product qualification rate will reduced, and the scrap rate will be relatively increased. Therefore, when determining the tolerance requirements of magnets, it is necessary to fully consider the requirements. Under the premise of meeting the requirements of use, try to select the appropriate tolerance and control the price of NdFeB magnets.

Magnet Shape

There are two main types of magnet semi-finished products, round and square, and the shapes and sizes required by the customers are cut from the large semi-finished products by machines. If the shape of the magnet is very complicated, it needs more processing procedures and processing fees. Therefore complex-shaped magnets are more expensive than normal-shaped magnets.

Shape of magnet & Price of NdFeB magnets

Image Source: Essentracomponents 

Production Process

Different manufacturers have different production processes and production equipment. Magnets need to be mechanically processed several times to achieve the required size and shape; moreover, magnets are brittle materials, which are difficult to process. Therefore, different magnet producers have different product qualification rates due to different production processes and equipment. If the product qualification rate is low, more raw materials are needed and the price of NdFeB magnets will increase.

Order Quantity 

Appropriate purchase quantities are a win-win situation for both supply and demand. As we all know, the size of the order quantity has a great impact on the price of NdFeB magnets, the larger the quantity, the lower the unit price.

Size of Magnets

The larger the size of the magnet, the higher the cost. This is because more raw materials are used and the production process is more complex, which results in higher processing costs. On the contrary, the smaller the size, the lower the processing cost.

Tariffs’ Effect on the Price of NdFeB Magnets

If you are a US customer, then tariffs will also have a significant impact on the price of NdFeB magnets. The U.S. plans to impose a 25% tariff on magnets imported from China starting in 2026, compared to the current tariff of 2.2%. In 2023, the U.S. imported 7,341 tons of magnets from China. The 25% tariff will impact the cost of magnets for U.S. customers.

Brands

Branding is also a factor that affects the price of NdFeB magnets. Some well-known brands usually have stricter control over the quality and performance of their products, so the price may be relatively higher. While some common brands or unknown brands may have lower prices, their quality and performance may be uncertain.

In conclusion, the price of powerful magnets is affected by many factors, and buyers should make comprehensive considerations according to their specific needs when choosing NdFeB magnets, to get the most cost-effective magnets.

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Jonah Jin

Jonah Jin
Managing Director

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