The rising price of strontium carbonate increases the cost of ferrite magnets

Strontium carbonate prices have been rising since September, and have been soaring for four months and the recent rise is accelerating!
At present, the price of strontium carbonate has risen from 7850 yuan/ton in September to 15,000 yuan/ton, an increase of 7,000 yuan/ton, an increase of nearly 90%!

As of January 21, 2025, the average price of 98% of domestic strontium carbonate was 15,000 yuan/ton, up 500 yuan/ton from January 10, up 1,000 yuan/ton from the beginning of January, an increase of about 7.1%.

The reasons:

The policy clearly calls for the elimination of outdated production processes and the upgrading of existing capacity;

Major bankruptcies create supply disruptions;

Due to the surge of investment in environmental protection and fierce competition in the industry, Hebei Xinji Chemical Group was filed for bankruptcy reorganization on October 21; In January 2025, Luoyang Lida Chemical, Ningxia Danske Chemical and Hebei Xindi Chemical were discontinued.
For the production capacity of halted enterprises, Hebei, Luoyang, Ningxia three halted production, plus 40,000 tons of Xindi, and counting some small factories about 50,000 tons of production capacity, the total is close to a little more than 100,000 tons. Production cuts have exacerbated supply disruptions, and the price of strontium carbonate has risen.