What decides the price of rare earth magnet

The price of rare earth is related to supply and demand. China’s rare earth supply accounts for 60%/80% of the world’s share. Under the influence of China’s continued restrictions on the import of rare earth mineral products, restrictions on the import of mineral products in Myanmar, and the addition of 25% tariffs on rare earth minerals in the United States, the supply and demand of rare earths will be further improved, which will affect the price. Moreover, rare earth has an irreplaceable role in the fields of military industry, electronics, and automobiles. In particular, rare earth permanent magnet products are widely used in various types of motors/motors, and downstream include new energy vehicles, automotive power steering systems, wind turbines, and robots. There is currently no material that can achieve large-scale replacement of high-end permanent magnet products. At the same time, the price of rare earth is close to the cost line, so the price increase is inevitable.