Samarium Prices: News, Market Analysis, Historical And Forecast, Database, Chart | Procurement Resource

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Samarium Prices

Samarium is a rare earth metal element that is obtained from the earth mineral ores, namely, monazite and bastnaesite. The ion exchange and solvent extraction process extracts the metal from the ores. It is a lanthanide metal that is a soft, white, and silvery metal element that acts as a strong catalyst in the dehydration and dehydrogenation of ethanol. Its abundance is as regular as tin metal in the commercial market. The metal is used in various industrial activities, including chemical and glass manufacturing.

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The key importing countries that import Samarium are India, the United States, and Vietnam. On the other hand, the key exporting countries are China, India, and South Korea.

Key Details About the Samarium Price Trend:

Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Samarium price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.

Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.

The Samarium Price trend, including India Samarium price, USA Samarium price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.

Industrial Uses Impacting Samarium Price Trend:

Samarium is a rare-earth metal that is used in the production of permanent magnets on a large scale. The metal has high demand due to its uniqueness and rarity that it exhibits. Samarium has limited applications all around the global market and is primarily associated with the magnet manufacturing units of the commercial industry. It is also associated with the metal and glass manufacturing industries on a large scale.

Additionally, Samarium produces infrared absorption glasses, optical lasers, and more. The metal is used as a catalyst in a few chemical reactions used in producing industrial reagents. It is also used as a neutron absorber. The metal exhibits hardness, rarity, excellent thermal shock resistance, and strength, making it a great material for medical, automotive, energy, aerospace, and defence industries.

Key Players:

  • American Elements
  • Stanford Advanced Materials
  • Reade International Corp.
  • ESPI Metals
  • SkySpring Nanomaterials, Inc.

News & Recent Development

  • Date: May 14, 2023- The Prime Minister of India inaugurates the brand-new plant at Visakhapatnam, which exhibits the rare-earth magnets primarily, facilitating the production of Samarium-cobalt rare earth magnets and neodymium-iron-boron.

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