Product
Neodymium Price Trends and Forecast
Neodymium Price Trends and Forecast
Regional Price Overview
Get the latest insights on price movement and trends analysis of Neodymium in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Neodymium Price Trends for the First Half of 2023
The market of rare earth metals such as neodymium witnessed fluctuating market sentiments in the first two quarters of 2023 as the price trendss suffered from the consistent decline in demand from the renewable energy sector and other related industries. Amid this muted demand for neodymium, the supply from the majority of suppliers, especially in China, inclined gradually during the first two quarters of 2023.
Among the downstream sector, the automotive sector somehow managed to maintain its pace, but the combustion engines sector and global wind energy sector were challenged with a low number of sales.
The magnets industries also showcased weak growth potential, and the plunging economy further pushed the price trends of neodymium into the negative zone. In addition to this, the supply of neodymium remained unrestricted in the Asia Pacific region, but the export rates suffered from strict policies, which only led to a rise in the level of inventories, hampering the growth of neodymium prices.
Analyst Insight
According to Procurement Resource, the price of Neodymium is expected to continue its declining trajectory as the demand from the end-user industries will likely remain weak amid feeble economic conditions.
Procurement Resource provides latest prices of Neodymium. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
About
Neodymium is a component of Didymium that is often utilised for colouring glass to make welder's and glass blower's goggles. It is a soft silvery metal that oxidises in air. An electropositive element, Neodymium reacts slowly with cold water. Naturally occurring Neodymium contains a mixture of five stable isotopes and two radioisotopes.
Product Details
| Report Features | Details |
| Product Name | Neodymium |
| Chemical Formula | Nd |
| Industrial Uses | Rare earth magnets, Anticoagulant, Electrical and electronic products, Medical science, Glass for Tanning Booths, Lasers |
| Molecular Weight | 144.24 g/mol |
| Synonyms | 7440-00-8, Neodimio, Neodyme, Neodym |
| Supplier Database | American Elements, Dura Magnetics, Inc., ABSCO Limited, Umicore N.V., Reade International Corp, HEFA Rare Earth Canada Co. Ltd. |
| Region/Countries Covered | Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru Africa: South Africa, Nigeria, Egypt, Algeria, Morocco |
| Currency | US$ (Data can also be provided in local currency) |
| Supplier Database Availability | Yes |
| Customization Scope | The report can be customized as per the requirements of the customer |
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Production Process
- Production of Neodymium via Extraction
Neodymium can be found in ores of other minerals such as monazite and bastnäsite, which are mined and extracted. They are the primary ores from which Neodymium is derived after refining.
Methodology
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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