The application of neodymium in magnets

Neodymium is a kind of fairly rare metal which is used in high grade magnets, Due to the increased demand, its prices rised since recent years.

Neodymium serves as a constituent of high strength neodymium magnets. Neodymium magnets is widely used in loudspeakers, computer hard drives, high power-per-weight electric motors (e.g. for those in hybrid cars) and in high efficiency generators (such as aircraft and wind turbine generators).

There was also a strong resurgence of interest in wind farms by the UK government between 2008 and 2010 due to the continuing fears of insecurity in Middle Eastern oil supplies to the industrialised nations and after the closure of several old and economically/environmentally unviable coal-fuelled power stations earlier that decade. This helped the price to rally in 2010.

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