Significantly reducing production costs, the current price of praseodymium neodymium metal is about 1 million yuan/ton, reaching a maximum of 1.4 million yuan in the first quarter, while the price of cerium metal is only 27000 yuan/ton.

The content of cerium in the crust is about 0.0046%, which is the highest abundance among rare earth elements.

The new cerium magnet can fill the performance gap between high-performance magnets and ferrite in permanent magnet materials. Its performance is lower than that of neodymium iron boron, but its cost advantage is prominent. Its price is higher than that of ferrite, but its performance advantage is obvious. It can replace some neodymium iron boron and ferrite markets at the same time.

We have developed a series of high abundance rare earth magnet brand products, breaking through the limitations of high abundance rare earth magnets concentrated in fields such as magnetic adsorption, magnetic separation, electric bicycles, luggage buckles, door buckles, toys, and expanding them to more demanding application fields such as acoustic devices and industrial motors.

At present, the possibility of cerium iron boron completely replacing neodymium iron boron is extremely low, especially for high-performance neodymium iron boron, but its prospects are still great