PrNd is the abbreviation of Praseodymium Neodymium mischmetal. It is a rare earth metal that is used to make neodymium magnets, which are widely used in various industries. Praseodymium and Neodymium have similar properties and extremely hard to separate from each other. The typical composition of PrNd mischmetal includes 75% Neodymium and 25% Praseodymium. As a main raw material, the content of PrNd mischmetal in the most widely used sintered Neodymium magnet is around 30wt%, therefore, PrNd price trend reflects the supply and demand of rare earths in the market. PrNd price has a decisive role on the price of neodymium magnets, which account for 80-98% of their cost.
DyFe alloy is an acronym for Dysprosium Iron alloy. Dysprosium is a heavy rare earth element with metallic silver luster. Dysprosium can significantly enhance intrinsic coercivity Hcj of sintered Neodymium magnet. Dysprosium is generally used in the form of Ferro Dysprosium alloy due to the price factor. Nominal content of Dy and Fe in Dy alloy is 80% and 20%, respectively. DyFe price has considerable influence on the cost of high coercivity sintered Neodymium magnet. In order to ensure rational use of rare earth resource, supply chain stability, and cost advantage, either downstream magnet consumers or manufacturers have been trying to get rid of heavy rare earth elements Dysprosium and Terbium.
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PrNd Price decreased 195.00 CNY/kg or 22.54% since the beginning of 2023. It is expected to trade at 660.00 CNY/kg by the end of this quarter.