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Nonferrous metals: the development and win-win of China's rare earth magnetic material industry chain.
- Feb 08, 2018 -

China is the world's largest producer of rare earths, as well as the world's largest producer, consumer and exporter of rare earths. Over the years, China's rare earth industry has been plagued by overcapacity and competition, and rare earth resources have been lost at a low price. In contrast, countries such as Japan and South Korea, which do not have rare earth resources, have bought enough rare earth products from China for 20 years as reserves and have gradually taken control of the international pricing power of rare earths. The price of rare earths is still historically low after a steep decline.

In recent years, the use of rare earths in new materials has grown rapidly, accounting for 52.5 percent of China's total rare earth consumption in 2008. Among them, permanent magnetic material is the most important component in the consumption field of rare earth new material. At present, nd-fe-b and other permanent magnetic materials have been widely used in electronic information, automobile industry, medical equipment and energy transportation. At the same time, with the continuous improvement of technology and cost reduction, in many emerging areas, such as wind power generation, electric vehicles, energy saving, environmental protection, such as home appliances and industrial energy saving motor, ndfeb permanent magnet material also shows strong potential for development. Due to the high cost of labor, the global rare earth permanent magnet material industry has completed the transfer from the western developed countries to the developing countries. In 2008, China's sintered ndfeb production was 51,000 tons, accounting for 81.0% of global production, making it the main supplier of rare earth permanent magnetic materials.