Rare Earth Magnet

Rare earth magnet is a type of permanent magnetic material which made from alloys of the Lanthanide series rare earth element Samarium (Sm) or Neodymium (Nd) and transition metal Cobalt (Co) or Iron (Fe). There are three types of commercially available rare earth permanent magnetic materials: Neodymium magnet, SmCo magnet, and SmFeN magnet. Magnetic performance of these three rare earth magnets is significantly higher than the ferrite magnets and AlNiCo magnets, then each of three has own unique characteristics, benefits, and application areas. SmCo₅ magnets, Sm₂Co₁₇ magnets and Neodymium magnets are typically known as the first, second, and third generation of the rare earth magnet, respectively. Then SmFeN magnets has been for a long time considered to be the fourth generation of the rare earth magnet.

Classifications of Rare Earth Magnet

Neodymium Magnets

Neodymium magnets are the most powerful rare earth magnets up to this day. Neodymium magnets can be classified into sintered Neodymium magnets, hot pressed Neodymium magnets, and bonded Neodymium magnets according to the manufacturing process. The most widely used sintered Neodymium magnets are admirable in magnetic performance, more versatile, and less brittle in comparison with sintered Samarium Cobalt magnets.

SmCo Magnets

SmCo magnets are abbreviation of Samarium Cobalt magnets. SmCo magnets have a reputation for temperature stability and corrosion resistance, thereby, it is ideal for extreme conditions where magnetic stability is critical. SmCo magnets can be divided into SmCo₅ magnets and Sm₂Co₁₇ magnets base on the alloy composition.

Influencing Factors of Rare Earth Magnet Price

PrNd mischmetal occupies the largest proportion of the Neodymium magnet’s total cost, therefore, fluctuation of PrNd price tendency has the most significant influence on the prime cost of the Neodymium magnet. As for high coercivity sintered Neodymium magnets, amount and price of heavy rare earth elements (HREEs) Dysprosium (Dy) and Terbium (Tb) are another decisive factor of cost. Dy and Tb are commonly used in the form of DyFe alloy and Tb metal.

SmCo magnet is primary composed of Samarium and Cobalt. Unlike PrNd mischmetal, DyFe alloy, or Tb metal, rare earth element Samarium holds the very low price and exceedingly stable price tendency, hence generate very constrained impact on the total cost of SmCo magnets. Cobalt proportion occupies 48-52wt% and 63-67wt% in Sm₂Co₁₇ magnet and SmCo₅ magnet separately. Consequently, it is certain that Cobalt price trend has a dominant effect on SmCo magnet cost.