INST: Under the background of high prices for praseodymium and neodymium, the substitution effect of samarium iron nitrogen and cerium iron boron on neodymium iron boron is limited

Regarding the issue of "the possibility of samarium iron nitrogen and cerium iron boron replacing neodymium iron boron against the backdrop of high prices for praseodymium and neodymium," INST stated during an institutional research on October 30 that under the high price of praseodymium and neodymium, the substitution effect of samarium iron nitrogen and cerium iron boron for neodymium iron boron is limited. The high-end application fields downstream have extremely strict requirements for the performance of magnetic materials. In these key application scenarios, neodymium iron boron, with its comprehensive performance advantages, remains an irreplaceable core material. Therefore, in the short term, the dominant position of neodymium iron boron in high-performance application fields will not undergo fundamental changes