The raw material of neodymium magnet is neodymium and iron.

Neodymium is one of rare earth metals. Its chemical symbol is Nd.

More than 85% of Neodymium are mined from China. It releases harmful substances while mining of neodymium and destroy the environment. Many countries import the neodymium instead of mining their own neodymium.

Neodymium magnets are applied for loudspeakers. earphones. computers. electric motors and wind generators.etc.

As the electric vehicles are more and more popular.The neodymium magnets of electric motors for VE are needed much more than before. The cost of neodymium is rising rapidly this year.

So the neodymium magnet is expensive.