Stanford Magnets has launched their Blanket Order Service. This new service will moderate the effects of price fluctuations in the current rare earth market.
In an effort to stabilize sudden price increases, the Blanket Order Service will allow customers to place an order in advance at a fixed rate for all types of rare earth magnets including neodymium magnets, SmCo magnets and alnico magnets. The stock will then be delivered at the customer’s request, honoring the initial agreed rate.
The price of rare earths has taken an unanticipated sharp increase in the last month, with future increases yet to come. Rare earth metals have come to be essential in every aspect of hi-technology ranging from lifesaving MRI scans, to green technology to small and powerful speakers, all are heavily dependent on rare earth. Such an important ingredient is almost virtually all supplied by China, which controls 95 percent of world production.
“A strong industry relies on a steadiness between supply and demand. The demand is high. The supply is controlled by China. While other initiatives such as recycling rare earth or the sudden urge to find alternative suppliers are on their way. We can’t wait for the unpredictable political decisions. We believe that stockpiling is the way forward for now, and so we have introduced this ‘Blanket Order Service’ in an effort to lessen the blow felt by our customers,” said Danny Burns from Stanford Magnets.
Rita Wang from Stanford Magnets added, “We are delighted to introduce this new service to our customers. When you have been in the manufacturing business for as long as us, you learn a thing of two about the unpredictable prices and the value of stockpiling. Magnets are an essential part of every aspect of our lives, and we should not have to wait for a political decision to stabilize the prices. Our stock of raw rare earth metals and our manufacturing capacity have now enabled us to provide this unique time and cost saving service.”