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Samarium Price Trend and Forecast

Regional Price Overview

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 First Half of 2023

Samarium have unique magnetic and optical properties and thus have significant industrial applications. It is popularly used in the manufacturing of strong permanent magnets known as samarium-cobalt (SmCo). These magnets are used in motors, sensors, and aerospace technology because of their excellent stability under extreme heat and magnetic fields. The market trend of samarium is, therefore, dependent on the dynamics of automotive and other industrial sectors.

Samarium Price Trends

The price trend of samarium and other rare earth metals followed a declining trajectory in the first two quarters of 2023. The main cause of this halt in the growing market dynamics of samarium was its limited demand from the automotive industries around the world. The production of specialized magnets also took a dip, and thus, the prices of samarium found it difficult to sustain and eventually followed a declining trajectory.

Analyst Insight

According to Procurement Resource, the prices of Samarium are estimated to struggle due to a lower number of sales in the automotive and rare earth magnets industries.

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.

Analyst Insight

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 Trend 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.

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About

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.

Product Details

Report Features Details
Product Name Samarium
Chemical Formula Sm
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.

Production Process

  • Production of Samarium via Reduction; via Solvent Extraction Technique, and via Electrolysis

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.

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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Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.

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Procurement Resource has made a mark for itself in terms of its rigorous assistance to its clientele. Our experienced panel of experts leave no stone unturned in ensuring the expertise at every step of our clients' strategic procurement journey. Our prompt assistance, prudential analysis, and pragmatic tactics considering the best procurement move for industries are all that sets us apart. We at Procurement Resource value our clients, which our clients vouch for.

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Expertise, judiciousness, and expedience are the crucial aspects of our modus operandi at Procurement Resource. Quality is non-negotiable, and we don't compromise on that. Our best-in-class solutions, elaborative consulting substantiated by exhaustive evaluation, and fool-proof reports have led us to come this far, making us the ‘numero uno' in the domain of procurement. Be it exclusive qualitative research or assiduous quantitative research methodologies, our high quality of work is what our clients swear by.

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  • Price Across Multiple Locations
  • Market Insights
  • Download Data in Excel Format
  • Short Term Price Forecasts
  • Prices of More than 400 Commodities and Utilities

Get in Touch With Us

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UNITED STATES

Phone:+1 307 363 1045

flag
INDIA

Phone: +91 1203185500

flag
UNITED KINGDOM

Phone: +44 7537 132103

Email: sales@procurementresource.com

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