Cerium’s effect on the permanent magnet industry is very deep though this rare-earth element wasn’t linked to magnetism earlier than many other rare-earth elements like neodymium. It is said that it is greater than the influence of neodymium, dysprosium, samarium, or even terbium, which are used in rare earth magnets.
This is because of a concept that we can call balancing. In other words, to reduce processing costs, miners should be able to sell rare-earth that they mine. However, it is not possible always due to variations in demand and supply. Though interlinked, they’re independent factors and rarely meet!
However, the importance of demand-supply balance shouldn’t and cannot be ignored if the efforts should yield profits. Nowadays, dysprosium and neodymium business thrives something that’s not usual for the rare earth industry. Originally, lanthanum and cerium were considered important rare earth elements. However, mining to get neodymium for the magnet market, results in huge amounts of lanthanum and cerium. This is now piling up and creating an imbalance in supply-demand.
Generally, there are two ways to restore balance. One is by creating demand by coming up with newer applications and the other is reducing the price. As for the reduction in pricing, the market always responds overwhelmingly well. Over the last fifty years, rare earth mining has moved to China. Even so, the growth and scope of rare earth elements were due to their applications. With an excess pile of cerium accumulating, it is highly important to come up with new and innovative applications for this rare earth element.
Recent attempts often mimicked rehash of older ideas and new uses are not yet identified. It is important to come up with many uses for cerium, closely followed by lanthanum, to get rare earth elements market back on track.
Thank you for reading our article and we hope it can help you to have a better understanding of the cerium’s effect on the permanent magnet industry. If you want to know more about permanent magnets, we suggest you visit Stanford Magnets for more information.
Stanford Magnets is a leading supplier of various magnet products across the world, who has more than two decades’ experience in the manufacture & sale of permanent magnets and provides customers with high-quality rare earth permanent magnetic products such as neodymium magnets, and other non-rare earth permanent magnets at a very competitive price.