China's NEV Production Boosts NdFeB Demand in Automotive Sector, Up 18.8% YoY

Published: Jun 11, 2026 09:08

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[SMM Rare Earth Magnetic Materials Newsflash] Recently, CAAM released data showing that China's NEV production in May 2026 reached 1.554 million units, while total automobile production reached 2.616 million units. Based on the SMM survey and model, NdFeB demand from NEVs in China was 6,641.1 mt in May 2026, and total NdFeB consumption in the automotive industry was 6,945.8 mt, up 18.8% YoY. As of now, the automotive sector remains the largest NdFeB consumer, and its share of total consumption is expected to be approximately 30% in 2026.

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