Get the latest insights on price movement and trend analysis of Samarium in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Samarium Price Trend for the Second Half of 2022
The cost of rare earth metals such as Samarium continued to decrease in the later quarters of 2022. Due to the limited number of new orders that downstream manufacturers got, rare earth oxide and metal inquiries and transactions were both muted. Some of the best factories producing magnetic materials fulfilled only long-term orders and saw no fresh orders thereby, causing the manufacturers to be more selective in their rare earth metal purchases. This affected the Samarium market adversely and as a result, a steady decline in the price trend of Samarium along with other rare earth metals was observed.
On the supply side, the production at rare earth separation facilities was consistent and the supply was steady throughout the quarters. The demand, however, was substantially restrained as a result of manufacturers not receiving enough new orders. The declining demand from the end-user industries and weak buying potential from the buyer’s segment thus led to the decline in the samarium prices.
According to Procurement Resource, given the current market dynamics, the prices of Samarium are expected to decrease in the coming months. The weak demand from the end-user market industries, negligible fresh orders, and weak market dynamics will affect the market severely.
Samarium Price Trends For the First Half of 2022
The prices of rare earth elements are on a continuous rise as the demand rises manifolds compared to the limited supply. China dominates the mining, production, and processing of rare earth elements like samarium thus, any fluctuations in the Chinese market reverberate globally. Samarium is used in energy transitions and magnets required in the EV industry.
The strong robust demand from the EV sector amid the continuing trade bottlenecks and supply uncertainties caused the prices of samarium to inflate globally. The constricted supply lines resulted due to covid related disruptions and expensive logistics. The closure of the border with Myanmar from where China sources 50% of their rare earth elements negatively impacted the price trend for Samarium. The price of samarium metal (99.5% min) averaged 412072.50 USD/MT during the said period.
Procurement Resource provides latest prices of Samarium. 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.
Samarium is a well-known chemical element belonging to the lanthanide series of the periodic table. It is a moderately hard silvery metal, which can slowly oxidise in air. Samarium is one of the rare earth metals that is extracted from natural ore materials like mineral monazite and bastnasite. Samarium is the third most volatile lanthanide that comes after ytterbium and europium.
|Industrial Uses||Samarium-cobalt magnets, Catalyst and chemical reagent, Optical lasers, Infrared absorbing glass, Neutron absorber, Ceramics and glasses|
|Molecular Weight||150.4 g/mol|
|Synonyms||7440-19-9, samarium atom|
|Supplier Database||American Elements, Stanford Advanced Materials, Reade International Corp., ESPI Metals, SkySpring Nanomaterials, Inc.|
|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.
In the reduction process, the oxide of Samarium is reduced with lanthanum. Then, the obtained product is distilled to recover Samarium as a final product, leaving behind lanthanum.
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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