Samarium price index

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Samarium price index

This post is a summary of the Samarium price developments. The price developments of Samarium are expressed in US$ prices converted FX rates applicable at the time when the price was valid. Samarium price index developments are calculated from multiple separate sources of data to ensure statistical accuracy.

The outlook for Samarium prices, on the second tab, is generated from different inputs including:

• Very recent price developments of immediate cost drivers of Samarium prices
• Recent price developments of underlying feedstocks which drive the price of Samarium
• Market futures for both cost drives and feedstocks of Samarium prices
• Adjustment of current supply/demand imbalances in the Samarium market
• Longer term trends in likely demand conditions

Further information on the Samarium price index

What is Samarium

Samarium is a chemical element with the symbol Sm and atomic number 62. It is a rare earth metal and is part of the lanthanide series on the periodic table. Here are some key characteristics of samarium:

Symbol and Atomic Number

Sm is the chemical symbol for samarium, and it has an atomic number of 62, which means it has 62 protons in its nucleus.

Physical Properties

Samarium is a silvery-white, lustrous metal at room temperature. It is relatively soft and can be cut with a knife. It has a melting point of approximately 1,072°C (1,962°F) and a boiling point of around 1,791°C (3,256°F).

Rare Earth Element

Samarium is one of the rare earth elements, which are a group of 17 chemical elements found in the Earth’s crust. They are collectively known as “rare” because they are not found in high concentrations and can be challenging to extract.

Applications

Samarium has various applications, including:

Permanent Magnets

Samarium-cobalt (SmCo) magnets are known for their strong magnetic properties and are used in various industries, including aerospace and electronics.

Solid-State Lasers

Samarium is used as a dopant in some solid-state lasers, contributing to their operation.

Nuclear Reactors

Sm-149, a naturally occurring isotope of samarium, is used as a neutron absorber in control rods for nuclear reactors.

Chemistry

Samarium has various oxidation states, with the most common being +2 and +3. Samarium compounds are used in a range of applications, from catalysts to phosphors.

Samarium is an important element in various technological and industrial applications due to its unique properties, particularly in the field of magnetism and laser technology.

How is Samarium mined

Samarium is primarily produced through the process of mining and extraction. The production of samarium typically involves the following steps:

Mining

Samarium is found in various minerals, with bastnäsite and monazite being the most common sources of rare earth elements, including samarium. These minerals are typically found in rare earth-rich deposits. Mining operations extract the ore-bearing rocks from the Earth.

Crushing and Grinding

The mined ore is crushed into smaller pieces and then ground into a fine powder. This increases the surface area of the ore, which is beneficial for subsequent chemical processing.

Leaching

The powdered ore is subjected to a chemical leaching process to extract the rare earth elements, including samarium. This involves using acids or bases to dissolve the ore, leaving behind the unwanted impurities.

Solvent Extraction

Solvent extraction is used to separate the rare earth elements from the leachate. This process involves adding an organic solvent that selectively binds with the rare earth elements, separating them from other elements and impurities.

Precipitation

Once the rare earth elements are in solution, they can be selectively precipitated out using chemical reactions. This results in the formation of rare earth hydroxides or carbonates.

Separation and Purification

The precipitated rare earth hydroxides or carbonates are further processed to separate and purify individual rare earth elements. This is typically achieved through a series of solvent extraction and ion exchange processes.

Reduction

The purified rare earth compounds are then reduced to obtain the desired rare earth metals. In the case of samarium, it can be obtained by reducing samarium oxide (Sm2O3) or other samarium compounds.

Smelting

The reduced samarium metal can be further processed by smelting, which involves melting and casting the metal into various forms, such as ingots or other shapes suitable for the intended application.

Final Processing

The smelted samarium can undergo further processing to meet specific purity and quality requirements, depending on its intended use.

It’s important to note that the production of samarium is often accompanied by the production of other rare earth elements, as they are typically found together in the same ore deposits. The separation and purification steps are crucial in obtaining high-purity samarium and other rare earth elements for various industrial applications. The process can be complex and environmentally challenging due to the handling of rare earth elements and the management of associated waste materials

What is Samarium used for

Samarium is used in various applications, thanks to its unique properties and characteristics. Some of the notable uses of samarium include:

Permanent Magnets

Samarium, in combination with cobalt, is used to make powerful permanent magnets known as samarium-cobalt (SmCo) magnets. These magnets have a high magnetic strength and are resistant to demagnetization, making them valuable in applications like:

Electric motors and generators.
Sensors and actuators.
Aerospace technology, where strong, stable magnets are needed.

Solid-State Lasers

Samarium is used as a dopant in certain solid-state laser materials, such as yttrium aluminum garnet (YAG) crystals. When samarium ions are introduced into these materials, they can emit laser light when stimulated, making them valuable in various laser applications, including medical and industrial lasers.

Nuclear Reactors

Samarium is used in the nuclear industry, particularly the isotope Sm-149. It is employed as a neutron absorber in control rods within nuclear reactors. This allows for the precise control of nuclear reactions and the prevention of runaway reactions.

Catalysts

Some samarium compounds are used as catalysts in organic synthesis and industrial chemical processes. They can facilitate specific chemical reactions and improve reaction yields in the production of various chemicals and materials.

Phosphors

Samarium is used in the production of phosphors for cathode ray tubes (CRTs) and fluorescent lamps. Phosphors containing samarium emit red and yellow light when excited by electrons, contributing to the color spectrum produced by these devices.

Samarium-Cobalt Alloys

Aside from magnets, samarium is used in the production of specialized alloys, particularly those that require high-temperature stability and resistance to corrosion. These alloys find applications in the aerospace and automotive industries.

Glass and Ceramics

Samarium oxide is used as an additive in glass and ceramic materials to enhance their properties, such as transparency and refractive index. It is also used in the manufacture of colored glass for optical filters and lenses.

Artificial Bone Growth

Radioactive samarium-153 is used in medicine for the treatment of bone cancer and other bone-related conditions. The radioactive isotope is incorporated into a compound that selectively targets bone tissue, helping to relieve pain and promote the healing of bone-related disorders.

Samarium’s magnetic and optical properties, along with its compatibility with high-temperature environments, make it a valuable element in various technological and industrial applications

How big is the Samarium market

The global market for samarium is relatively small compared to other industrial and rare earth elements. It is a niche market with demand driven by specific applications, such as the manufacturing of high-performance magnets, solid-state lasers, and certain niche uses in the nuclear industry.

The global samarium cobalt magnet market is expected to grow at a CAGR of 5.73% from US$497.750 million in 2021 to US$735.189 million in 2028.

Samarium cobalt (SmCo) magnets are a specific type of rare earth magnet characterized by their exceptional magnetic strength and ability to withstand high temperatures.