China Boosts Production of Rare Earth Permanent Magnet Materials in 2019
Sintered NdFeB production up 10%, inline with rare earth mining, smelting and separation quota increases for the year
According to industry sources, China produced 170,000 tonnes of sintered neodymium-iron-boron (“NdFeB”) blanks in 2019, up 10% year-over-year, despite the nation seeing a lull in domestic EV sales growth, coupled with consecutive months of declining manufacturing activity.
Production of bonded NdFeB powder in China increased 5% in 2019 to 7,900 tonnes and production of samarium cobalt magnet alloy increased 4% to 2,400 tonnes.
Coinciding with this boost in magnetic materials production, China increased domestic rare earth mining, smelting and separation quotas by a similar 10% in 2019, demonstrating that demand growth for rare earths used in permanent magnets (namely neodymium, praseodymium, dysprosium and terbium) is what dictates, and will continue to dictate, production guidance in China.Back to overview