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Permanent Magnet imports peaked at 29K tons in 2014 but failed to regain momentum from 2015 to 2023. In value terms, imports rapidly shrank to $89M in 2023.
In September 2023, the growth rate of Permanent Magnet imports surged by 101% month-to-month. However, by December 2023, the value of these imports decreased to $28M.
The highest growth rate was observed in March 2023 with a 36% month-to-month increase in Permanent Magnet imports. The value of permanent magnet imports slightly decreased to $17M in November 2023.
Explore the top 10 import markets for permanent magnets, including key statistics and insights. Find out which countries dominate the global import market for these essential materials.
The growth rate in August 2022 was the fastest, with a month-to-month increase of 50%. In terms of value, imports of Permanent Magnets decreased to $21M in July 2023.
Exports of Permanent Magnets reached a value of $373M in June 2023.
In April 2023, the price of Permanent Magnet was $10,058 per ton (CIF, Spain), showing a significant decrease of -42.7% compared to the previous month.
In March 2023, the permanent magnet price stood at $11,273 per ton (CIF, Italy), remaining relatively unchanged against the previous month.
In February 2023, the permanent magnet price stood at $21,763 per ton (CIF, France), picking up by 15% against the previous month.
In January 2023, the price of permanent magnets was $17,545 per ton (CIF, Hong Kong, China), a 46% increase from the month before.
In August 2022, the permanent magnet price per ton stood at $604, which is down by -15.6% against the previous month.
With the development of the electric car and electronic technology industry, the demand for permanent magnets is showing significant growth. China, thanks to government subsidies, continues to maintain low market prices for permanent magnets and dominate the export market.