PrNd Price Trend

Neodymium is the most prominent element in the whole rare earth family nowadays. The abundance of Neodymium in the Earth’s crust is second only to Cerium. Applications of Neodymium are nowhere near as Cerium before Neodymium magnets came out, and it mainly served to non-ferrous metals, petroleum refinery, and catalyzer in the form of mixed light rare earth metals at that time, then the value of Neodymium has been doubled since the advent of Neodymium magnets in 1983. Neodymium oxide and Neodymium have become a powerful motivator to drive and stimulate the violent development of rare earth industry. Praseodymium and Neodymium have similar properties and extremely hard to separate from each other. PrNd is the abbreviation of Praseodymium Neodymium mischmetal. Mischmetal is an alloy containing in different proportions rare earth metal. The typical composition of PrNd mischmetal includes 75% Neodymium and 25% Praseodymium. PrNd price is cheaper than the single element, then PrNd mischmetal has become an independent product and widely applied in permanent magnetic material. As a main raw material, the content of PrNd mischmetal in the most widely used sintered Neodymium magnet is around 30wt%, therefore, PrNd price has the decisive role on the price of Neodymium magnet.