Neodymium Price Increases
Dear Valued Customers,
China President Mr. Xi Jinping has recently visited Jiangxi Province, which is the central hub of China's heavy rare earth raw materials.
After the president's visit on this Monday 20th May, the price trend of PrNd and DyFe material prices, as shown in the attached charts, has increased significantly. It is seen as a sign that China is taking actions against United States of America and their trade war. This increase will affect the price of all Neodymium and Samarium Cobalt magnets within our range.
At the current time, PrNd and DyFe prices were steadily level until last week. With the increase it would seem the 6 major stated-owned rare earth suppliers have a strong willingness to raise their prices.
Considering that the tariff issues are not likely to be resolved between the two countries soon, we would like to take this opportunity to offer some advice to help with the current situation:
- All your current pending orders will be produced at agreed prices without effect. We have enough stock to complete your current orders.
- We can provide quotations, however due to the rare material markets our prices will only be valid for 24-48 hours. Only on the spot prices are available at this moment.
- Please contact us if you can before ordering.
- As the situation develops, we will advise you accordingly.
We will do our best to find the best solution for you and your company and we apologize for any inconveniences this may cause.
If you would like to find out some more information regarding the price increases please email us on email@example.com or call us on +44 (0) 1793 425600.