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Neodymium (Nd) is a chemical element and rare-earth metal belonging to the lanthanide series of the periodic table. The inorganic element appears to be silvery white in colour and has a shiny yellow look and lustre. It offers various properties like ductility, the ability to oxidize in the air, malleability, forming an oxide readily etc., which furthers the market demand. From the rare-earth elements, it is the second most abundant element.
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It is mined in areas such as Sri Lanka, Brazil, India, China, the United States, and Australia. It has a molar mass of 144.2 g mol -1 and a density of 7.0 g cm-3. Its melting and boiling points are 1024 °C and 3074 °C, respectively.
Key Details About the Neodymium Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Neodymium price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Neodymium Price Trend, chart, including India Neodymium price, USA Neodymium price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Neodymium Price Trend:
Neodymium is widely employed across various industries, which is the main driver of the market. In the household appliances industry, it is employed for making products and devices like fluorescent lamps, colour televisions, and energy-saving lamps and glasses.
In addition, its alloys, like Neodymium iron and boron (NIB), are used for making permanent magnets which are incorporated in parts of loudspeakers, modern vehicles, and computer data storing.
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Other applications of the metal include its addition in colouring glasses (didymium glass), production of crystal (yttrium aluminium garnet) in the laser industry, steel welding, and treatment of skin cancer.
Key Players:
- American Elements
- Dura Magnetics, Inc.
- ABSCO Limited
- Umicore N.V.
- Reade International Corp
- HEFA Rare Earth Canada Co. Ltd.
News & Recent Development
As per the trading on a contract for difference (CFD), tracking the commodity's benchmark market, the price for Neodymium has lowered by 37.70% or 360,000 CNY/T since 2023 began.
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We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.
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Reference Link - https://theprocurementexpert.com/neodymium-prices-trends/
Neodymium is used to make strong permanent magnets with a high magnetic moment. These magnets are found in a variety of applications, including electric motors, generators, and magnetic resonance imaging (MRI) devices.
