In the past two years, the price of high-temperature resistant samarium cobalt magnets has been rising and rising again. So why do the prices of many magnets such as high-temperature resistant samarium cobalt magnets continue to rise instead of falling? In fact, this is mainly because our high-temperature resistant samarium cobalt magnets and other magnets require various rare earth elements in rare earths. These elements are essential in our regular magnet production process, so the price of high-temperature resistant samarium cobalt magnets rises along with the price of rare earths. The main reasons for the rise in rare earth prices are the following two points:
1. Europe, the United States and Japan are too dependent on China's rare earth mineral resources.
From some of the earliest news, Europe, the United States and Japan expressed dissatisfaction with my country's restrictions on the export of rare earth mineral resources. Recently, Europe, the United States and Japan have taken some actions to force my country to lift restrictions on rare earth mineral resources. This has once again escalated the four-party rare earth war between China, the United States, Europe and Japan. The fact that China has been able to resist Europe, the United States and Japan on its own for so long shows that our country attaches great importance to this industry.
2. Our country's protection of rare earths, a non-renewable resource, and its rectification plan
We in China have been rectifying rare earths and the rare earth industry in the past two years so that the industry can develop sustainably for a longer period of time. This requires shutting down some technologies that are backward and whose production capacity cannot keep up. of small minerals. At the same time, some companies are also integrated to make them more equipped with better technologies. Through these measures, the number of companies developing wrong rare earth minerals in the entire industry has been greatly reduced. It is obvious that there are fewer companies supplying rare earth minerals, competition will not be as fierce as before, and prices of high-temperature resistant samarium cobalt magnet will naturally rise. In fact, this is also a powerful means for my country to protect the rare earth mineral industry.
