Price Surges for Rare Earth for Permanent Magnet

Market price of rare earth for permanent magnet, which is used for motor of hybrid vehicle and environmental friendly appliances, surges recently due to speculative purchase. The price of metallic neodymium and metallic didymium increased by 20% in a month when suppliers try to seek higher price in China, which represents more than 90% of world supply. Some Japanese buyers hold the order to avoid high price purchase.