Ferrite magnets remain the most widely produced permanent magnet material by weight because of their cost efficiency, stable magnetic performance, and broad range of applications. In 2020, global ferrite magnet production reached approximately 900,000 tons.
Iron oxide and strontium carbonate are the principal raw materials used in strontium ferrite magnets, accounting for approximately 85 wt% and 15 wt% of the main raw material mix, respectively. Actual formulations may vary according to the ferrite grade, raw material specifications, and manufacturing process.
Although strontium carbonate represents the smaller proportion by weight, its higher and more volatile unit price can give it a disproportionate influence on the ferrite magnet price. Supply disruptions or significant changes in strontium carbonate prices may therefore affect ferrite magnet costs even when iron oxide prices remain relatively stable.
Strontium carbonate and ferric oxide price trends can be used as reference indicators when reviewing changes in the ferrite magnet price. However, these raw material trends cannot be directly converted into finished magnet prices because their actual impact also depends on material specifications, formulation, purchasing conditions, and production costs.
The final ferrite magnet price also depends on powder preparation, calcination, sintering, energy consumption, magnet shape, machining requirements, production yield, magnetization, order quantity, and other manufacturing costs.
