Dear Valued Customer,
First of all we hope all of your company members and their families are doing well during this difficult time.
Our attached price charts show that raw material cost of Neodymium magnets and SmCo magnets had a dramatic increase in the past 2 weeks.
This makes many customers start to worry about the cost of their products and ask what will be trend in the following weeks and how should they react.
SDM Magnetics would like to provide some recommendations as below:
– The increase of material is a fact for the time being, therefore it is recommended that you can check your schedule for the short term usage of regularly purchased items and prepare stock asap.
– If you have any new order plans, please kindly check with us in advance for the best offer before you place the order. SDM is willing to use our stock materials and sacrifice our margins at this moment to lower your costs as much as possible.
– If you do not have urgent demand for magnets in the following days(2 months for example), it is recommended that you can wait and let SDM know that you need a quote later. We will keep you posted on weekly basis of the raw material trends to help you make the best decision to buy.
In general, we think the increase of raw material prices will not continue for a long time considering the current global economy condition. Because of the COVID-19 pandemic, the global economy is and will not be positive throughout year 2020. SDM Magnetics will do our best to work together with you to overcome the current situation.
Thank you very much.