The price of Pr-Nd alloy surged sharply in August.

The price of Pr-Nd alloy rose to between 500,000 and 640,000 RMB per ton in August. These are important materials for neodymium magnets. This year, the price has nearly doubled. China produces 80 percent of the world's total supply of these materials. The Chinese government is implementing strict crackdowns on illegal miners and environmental protection policies. Neodymium magnets are needed for renewable energy, electric vehicles, and wind power motors. It is expected that demand for rare earths will exceed supply in the latter half of this year. (Bloomberg - 2017/9/7 "Rare Earth Metals Electrified by China's Illegal Mining Clean-Up")

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Price trends of rare earth metals