With the symbol Nd and atomic number 60, neodymium is a chemical element which is a rare-earth metal of the lanthanide series of the periodic table. It is a flexible and malleable metal which appears in a silvery white colour.
Moreover, the metal oxidises quickly in the open environment to develop into an oxide which readily spalls, uncovering the metal for additional oxidation. Neodymium should be kept in a sealed plastic covering, vacuum, or passive atmosphere.
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In addition, it responds steadily to mineral acids excluding hydrofluoric acid (HF), in which it develops a protective layer of trifluoride (NdF3).
China is the major manufacturer of rare earth metals and owns the greatest rare earth reserves, followed by Vietnam, Brazil, Russia, and India.
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:
The extremely vital utilisation of neodymium is in alloy with iron and boron to manufacture robust and permanent magnets. This discovery helped in miniaturising several devices, such as mobile phones, microphones, loudspeakers, and electronic musical instruments. Such magnets are also utilised in car windscreen wipers and wind turbines.
Moreover, in combination with praseodymium, neodymium is an important component in didymium glass. This extraordinary glass is used in goggles worn during glass blowing and welding. Besides, it is also utilised in glass for tanning cubicles, as it transfers the tanning UV rays and not the heating infrared rays.
Furthermore, neodymium glass is used to build lasers employed as laser pointers in eye and cosmetic surgeries and for treating skin cancers. Neodymium oxide and nitrate are employed as catalytic agents in polymerisation reactions. Also, neodymium-iron-boron (NdFeB) has a critical significance in electric motors, which are utilised in electric vehicles and applications related to wind energy.
Key Players:
- American Elements
- Dura Magnetics, Inc.
- ABSCO Limited
- Umicore N.V.
- Reade International Corp
- HEFA Rare Earth Canada Co. Ltd.
News & Recent Development:
- February 10, 2023: Arlanxeo, a Netherland-based company, recently revealed an investment in its Triunfo facility. This industrial plan will permit the company to manufacture advanced Neodymium Butadiene Rubber (Nd-BR) and Lithium Butadiene Rubber (Li-BR) to be used for applications in tire and non-tire products.
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