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Neodymium Price — 10-Day Trend Behind Two Clean-Energy Magnet Markets
All prices in ₹ per gram · daily rate, updated once per day
Two Machines, One Magnet Doing the Heavy Lifting
An electric car and an offshore wind turbine don't look like they have much in common. One fits in a parking space; the other stands taller than most buildings. But open up the motor in one and the generator in the other, and there's a real chance both are built around the same material: neodymium-iron-boron, or NdFeB, permanent magnets. Today's benchmark rate of ₹12.41 per gram, September 17, 2026, is the price of the raw input behind both of those machines — not a coincidence, but a genuine shared dependency.
These are neodymium's two biggest clean-energy applications, and they're worth looking at specifically rather than lumped into a general "uses of neodymium" survey, because the engineering reasons differ more than most people assume. An EV motor wants a magnet that's small and light. A wind turbine generator wants a magnet that can do useful work at very low rotational speed. NdFeB happens to satisfy both, which is exactly why demand from these two sectors gets discussed together so often.
- Per gram: ₹12.41
- Per 10 grams: ₹124.05
- Per kilogram: ₹12,405.39
That figure traces back to international rare-earth pricing converted through the prevailing USD/INR rate — neodymium doesn't trade on a retail bullion market the way gold or silver does, so the number above reflects industrial spot pricing rather than a jeweller's counter rate.
Neodymium Price by Weight
Today's Neodymium rate is Twelve Rupees per gram. At this rate, 10 grams of Neodymium costs One Hundred and Twenty Four Rupees.
| Unit | Weight | Price (INR) | Price in Words |
|---|---|---|---|
| 1 Gram | 1.0000 g | ₹12.41 | Twelve Rupees |
| 8 Grams | 8.0000 g | ₹99.24 | Ninety Nine Rupees |
| 10 Grams | 10.0000 g | ₹124.05 | One Hundred and Twenty Four Rupees |
| 100 Grams | 100.0000 g | ₹1,240.54 | One Thousand Two Hundred and Forty One Rupees |
| 1 Kilogram | 1,000.0000 g | ₹12,405.39 | Twelve Thousand Four Hundred and Five Rupees |
| 1 Ounce (oz) | 28.3495 g | ₹351.69 | Three Hundred and Fifty Two Rupees |
| 1 Troy Ounce | 31.1035 g | ₹385.85 | Three Hundred and Eighty Six Rupees |
| 1 Metric Ton | 1,000,000.0000 g | ₹12,405,389.00 | One Crore Twenty Four Lakh Five Thousand Three Hundred and Eighty Nine Rupees |
EV Traction Motor vs Wind Turbine Generator, Side by Side
Both machines convert between electrical and mechanical energy — a motor turns electricity into motion, a generator turns motion into electricity — and both lean on permanent magnets to do it without wasting energy on a separate field-winding current. But the design pressures pulling on each one are genuinely different, and that shows up clearly once you set them next to each other.
| Aspect | EV Traction Motor | Wind Turbine Generator (Direct-Drive) |
|---|---|---|
| Magnet role | Rotor-mounted magnets create the magnetic field the stator's rotating field pulls against, producing torque directly — no separate field-winding current needed to sustain that field. | Rotor magnets generate AC current directly as the blades turn the shaft at low, variable speed — the generator makes usable electricity without a gearbox stepping that speed up first. |
| Why NdFeB specifically | The highest energy product of any commercial magnet lets a compact rotor deliver strong torque without adding bulk — and every extra kilogram of motor is a kilogram not spent on battery. | The same strength-to-size advantage lets a slow-turning rotor still generate meaningful power, which is exactly what a gearless, direct-drive design needs from its magnets. |
| What it buys the engineer | A smaller, lighter, more efficient traction motor — which shows up as better range per kWh of battery and stronger low-speed torque for acceleration. | Removal of the mechanical gearbox that geared turbines rely on, cutting out a major source of wear, noise, and unplanned downtime. |
| The real trade-off | Higher material cost and rare-earth exposure than magnet-free alternatives — induction motors or externally-excited synchronous motors — which some manufacturers use specifically to reduce that exposure, at some cost to efficiency or power density. | A heavier, costlier generator per unit than a geared design with a conventional induction generator — a cost offset over the turbine's working life by fewer moving parts and better uptime, which matters most where reaching the turbine for repairs is hardest. |
Why "strongest magnet available" matters differently in each case
In a car, size and weight are everything. A motor that's a few kilograms lighter and a few centimetres smaller frees up room for battery cells or cabin space, and every bit of weight saved is weight the battery doesn't have to haul around all day. NdFeB's strength-to-size ratio is what makes a compact, high-torque motor possible in the first place — a weaker magnet material would force a bulkier design just to hit the same performance.
In a wind turbine, the pressure is almost the opposite. Nobody's trying to save a few kilograms on a machine that already weighs many tonnes. The problem is speed: turbine blades turn slowly, and a standard generator wants to spin fast to produce power efficiently. A geared turbine solves that mismatch with a mechanical gearbox. A direct-drive turbine solves it with a much larger, more heavily magnetised generator instead — trading gearbox maintenance for magnet content. That's a deliberate engineering choice, not an accident, and it's a big part of why direct-drive designs use meaningfully more NdFeB per unit than a geared design does.
Neodymium Price — Last 10 Days
The most recent Neodymium price on record (2026-09-17) is Twelve Rupees per gram. This is up by Less than One Rupees from the previous day's rate of ₹12.38.
| Date | Price (INR/g) | Change |
|---|---|---|
| 2026-09-17 | ₹12.41 | +0.02 |
| 2026-09-16 | ₹12.38 | -0.06 |
| 2026-09-15 | ₹12.44 | +0.02 |
| 2026-09-14 | ₹12.42 | +0.02 |
| 2026-09-13 | ₹12.40 | +0.00 |
| 2026-09-12 | ₹12.40 | +0.01 |
| 2026-09-11 | ₹12.40 | -0.01 |
| 2026-09-10 | ₹12.40 | +0.06 |
| 2026-09-09 | ₹12.34 | +0.05 |
| 2026-09-08 | ₹12.30 | — |
What This Means for Where Neodymium Demand Is Headed
Neither of these applications is new — permanent-magnet motors and generators have existed for decades — but both have scaled up considerably as EV production and wind capacity have grown, and that growth is widely regarded as a significant driver of neodymium demand. It's not the only driver; hard disk drives, speakers and general electronics still form a steady demand base underneath it, as covered on this site's neodymium uses page. But EVs and wind are the two segments most analysts point to when explaining why this market has drawn far more attention in the last several years than it used to.
Offshore wind deserves a specific mention here. Reaching a turbine sitting in open water for a gearbox repair is expensive and often weather-dependent, so the reliability case for a gearless, direct-drive design carries more weight offshore than it does for a turbine sitting on land next to an access road. That's one reason offshore wind buildout is watched closely by anyone tracking neodymium demand specifically, rather than wind energy in general.
None of this changes how neodymium is bought and sold today. There's still no retail bullion market for it the way there is for gold — it's an industrial input, priced and traded by manufacturers and processors, not held by individuals as a store of value. What it does mean is that the price on this page is shaped, in real part, by decisions being made in EV design studios and offshore wind projects right now, not just by mining output.
Neodymium in EVs and Wind Turbines — FAQs
Because NdFeB magnets pack the most magnetic strength into the smallest, lightest package of any commercial magnet material. That lets a permanent-magnet traction motor stay compact and efficient, which translates directly into better range for a given battery size — a trade-off most automakers have decided is worth the material cost.
No. Most do, but a minority of manufacturers use induction motors or externally-excited synchronous motors specifically to avoid rare-earth exposure. Those designs trade away some of the efficiency and power density a permanent-magnet motor offers, which is exactly why they remain the exception rather than the default.
Mainly in direct-drive turbine designs, which skip the mechanical gearbox that geared turbines use to speed up the rotor's slow rotation. Without that gearbox, the generator has to do more of the work itself, and that's where large NdFeB magnets come in — they let a slow-turning shaft still generate usable electricity.
A single direct-drive wind turbine generator uses considerably more magnet material than a single EV motor does, simply due to scale — but EVs are produced in far greater numbers, so both are genuine, significant sources of demand rather than one dominating the other outright.
Offshore maintenance is expensive, weather-dependent, and hard to schedule, so avoiding a gearbox — a common failure point in geared turbines — carries outsized value at sea. That reliability case is a big part of why permanent-magnet direct-drive generators show up more often in offshore wind than onshore.
Yes — it's widely regarded as a significant driver of neodymium demand growth, alongside the older, steadier demand base from electronics. How much that demand growth ultimately moves the price also depends on supply-side factors, chiefly how mining and processing capacity respond, so it's one input among several rather than the whole story.
