Whats up with the price of Rare Earth magnets?

[Roland]

Neodidium magnets Up over 300%
I priced some Neo magnets at 5.99 EA, from KG magnets 3 months ago.
NOW THEY ARE $18.99 ! Whats up with that?

Even my other cheaper source the price went up 75% in that same 3 months.


I still need about another 70 magnets to complete some testing. OUCH!

[Bizzy]

Neodidium magnets Up over 300%
I priced some Neo magnets at 5.99 EA, from KG magnets 3 months ago.
NOW THEY ARE $18.99 ! Whats up with that?

Even my other cheaper source the price went up 75% in that same 3 months.


I still need about another 70 magnets to complete some testing. OUCH!

Hi Roland
Most of the rare earth material for these magnets comes from China. And since the Chinese are in the process of building more renewable energy resources as well, they have been keeping more and more for themselves which lowers the international supply and hence increases the price (sorry for teh economics 101 lesson)
I heard rumors about several American companies working on alternatives but have heard nothing else.
Unfortunately we can only expect teh price to increase.
Bizzy

[gravityblock]

I posted this last week in a thread titled "Permanent Magnets", but I'll post it here as well. China clamps down on rare earth exports. If China continues on their current policy, then most won't be able to afford the neos in the near future.

GB

[Bizzy]

I posted this last week in a thread titled "Permanent Magnets", but I'll post it here as well. China clamps down on rare earth exports. If China continues on their current policy, then most won't be able to afford the neos in the near future.

GB

Hi Gb
You are exactly right. The Chinese are looking out for themselves not humanity.
You can simply look at the "das Kapiltal" by Karl MarX..."The Capitalist will sell us the vary rope with which we will hang them."
Unfortunately there is little we can do now until some one ( a hard working capitalist) comes up with a viable replacement...hint, hint, hint
Bizzy

[ewizard]

I also suspect that as possible success in the free energy arena comes closer that a tighter reign will be put on Neo magnets (i.e. priced out of reach) to keep the average person from being able to afford a magnet based FE device. However I have read that alternatives to Neo magnets are being developed that will be as strong or stronger and use materials that are more available.

For now this sucks!

[dubsta]

All metals are going up....as the currency gets debased it will get much worse.

Check the price of silver...

[Bizzy]

I also suspect that as possible success in the free energy arena comes closer that a tighter reign will be put on Neo magnets (i.e. priced out of reach) to keep the average person from being able to afford a magnet based FE device. However I have read that alternatives to Neo magnets are being developed that will be as strong or stronger and use materials that are more available.

For now this sucks!

Hi Ewizard.
A while ago I heard of other companies working on substitutes for the Neo Magnets.
Do you know specifically what companies are working on these so we can watch out for them?
Thanks
Bizzy

[rickoff]

It certainly is a fact that China produces the vast majority of the world's rare earth minerals supply (97% to be exact). World demand for rare earths in 2010 was about 127,000 tons, and that is expected to reach 188,000 tons by 2015. Much of this demand is for neodymium. As with most other commodities, the US consumes the lion's share of neodymium, and the US government accounts for a very large portion of the demand for their scientific and military uses. High tech industries also account for a large demand. A single commercial wind turbine uses more than 500 pounds of rare earth minerals, and a hybrid electric car uses 60 pounds. Thus, China is realizing the strategic importance of neodymium, and acting in their own best interest. Naturally, if they horde the neodymium for their own use, or make the price unaffordable to other nations, they will be the only country that can remain dominant in the manufacture of devices that use these minerals.

China isn't the only country where rare earth minerals are known to exist, and there are known locations here in the US. Problem is, there is currently only one rare earth mine in the US, and that is at Mountain Pass, California. That mine was shut down in 2002 because of environmental violations and low market prices for rare earth elements, but with projected shortages and price increases the mine reopened in December of 2010. That particular mine does not nearly have the capability of supplying all of the US demand for neodymium, but a Canadian mining company has applied for permits to mine rare earth minerals at the Bear Lodge area in the Black Hills of Wyoming, where deposits are known to exist. A 1983 USGS report stated that these deposits are one of the largest resources of rare earths in the United States.

At the time the USGS findings were first reported, there were not a lot of uses for rare earth elements. And once uses were found, China already was flooding the market with rare earth elements, making it uneconomical to mine in America. That will change now, however the US is not very well prepared for large scale production, having no processing facility for the mined ore which must currently be sent overseas to be processed. So no matter how this unfolds, the cost for producing neodymium magnets here in the US will be high, and nearly all of the production will be earmarked for government and industry use.

Samarium-cobalt magnets, which are not as strong as neodymiums at room temperature, would be the next logical alternative for experimental and free energy use, and are about 25% less expensive on average, but are also made from rare earth minerals so probably will not be a viable future option. Furthermore, the aerospace industry has first dibs on these because of their ability to outperform neodymium magnets at high or low temperature extremes.

Unfortunately, it would seem that any widespread free energy technology relying on neodymium or samarium-cobalt magnets is going to be wishful thinking. We can remain hopeful that a suitable and low-cost replacement can be found, but I don't see it out there on the horizon. Therefore, it appears we will either have to pay whatever the going price is until it simply becomes unaffordable, or turn our attention to other technologies that either do not require powerful magnets, or do not require them in sizes or quantities that break the bank.

Rick

[Bizzy]

a dim light at the end of an expensive tunnel

Good afternoon everyone. I came across this today and thought I would pass it along.
Bizzy
Powerful magnets developed to end rare earths dependency | Homeland Security News Wire

[ewizard]

Hi Ewizard.
A while ago I heard of other companies working on substitutes for the Neo Magnets.
Do you know specifically what companies are working on these so we can watch out for them?
Thanks
Bizzy

I don't recall who or where but I see you have found some more info. IIRC the info I read was similar to the info in the link in your last post here but I didn't recall GE being involved.

[Bizzy]

I don't recall who or where but I see you have found some more info. IIRC the info I read was similar to the info in the link in your last post here but I didn't recall GE being involved.

Good morning
I didnt realize until I read the article that GE was involved.
I do remember reading about a companuy in Idaho that was showing very promising working ans was using metals readily availble here in there US, but i cant find the article or the company.
Bizzy

[Bizzy]

Some more good news

Good morning
I came across this article and thought I would pass it along.
I am also contacting my broker to see about buying stock in this company as well.
Enjoy
Bizzy


Mine in Mojave Desert May Hold Key to Beating China in the Race for Raw Materials - FoxNews.com

[Iotayodi]

GE has received $2.25 million from the Department of Energy to develop these magnets

Thats American tax dollars. I guess GE couldn't afford it themselves.
What BS!!