The rare earth permanent magnets concept strengthened in the afternoon, with Tianhe Magnetic Materials hitting the daily limit during trading. Prices of medium-heavy rare earths such as terbium oxide rose. [SMM Flash News]

게시됨: Apr 8, 2025 14:17

저장

SMM Flash: Rare Earth Permanent Magnets Concept Strengthened in the Afternoon, Tianhe Magnetic Materials Hit the Limit Up, Prices of Medium-Heavy Rare Earths Such as Terbium Oxide Rose. On April 4, the Ministry of Commerce, in conjunction with the General Administration of Customs, issued an announcement on the implementation of export control measures on seven categories of medium-heavy rare earth-related items including samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium, which took effect immediately upon issuance. Influenced by the positive news of export control measures on some medium-heavy rare earth-related items by the two departments and the significant pre-increase in Q1 performance of China Northern Rare Earth, the rare earth permanent magnets concept sector strengthened significantly in the afternoon of April 8. As of 13:45 on April 8, the rare earth permanent magnets concept index rose by 2.47%.

SMM April 8 News: On April 4, the Ministry of Commerce, in conjunction with the General Administration of Customs, issued an announcement on the implementation of export control measures on seven categories of medium-heavy rare earth-related items, including samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium, which took effect immediately upon release. Driven by the positive news of export controls on some medium-heavy rare earth-related items by the two departments and the significant pre-increase in Q1 performance of China Northern Rare Earth, the rare earth permanent magnet concept sector surged in the afternoon of April 8. As of 13:45 on April 8, the rare earth permanent magnet concept index rose by 2.47%. In terms of individual stocks: Tianhe Magnetic Materials and Chuangxing Resources hit the limit up, Jiuling Technology rose over 26%, while Galaxy Magnets, Xici Technology, Benlang New Materials, and JL MAG Rare-Earth all rose over 10%.

News: On April 4, the Ministry of Commerce and the General Administration of Customs issued an announcement on the implementation of export controls on some medium-heavy rare earth-related items. According to the relevant provisions of the Export Control Law of the People's Republic of China, the Foreign Trade Law of the People's Republic of China, the Customs Law of the People's Republic of China, and the Regulations on the Export Control of Dual-Use Items of the People's Republic of China, and in order to safeguard national security and interests and fulfill international obligations such as non-proliferation, the State Council approved the decision to implement export control measures on seven categories of medium-heavy rare earth-related items, including samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium, which took effect immediately upon release.

Click for details.

China Northern Rare Earth announced at noon on April 8 that it expects to achieve a net profit attributable to the owners of the parent company of 425 million to 435 million yuan in Q1 2025, up 716.49% to 735.70% YoY.

Tianhe Magnetic Materials announced on the evening of April 3 that the company's stock had a cumulative deviation of 20% in the closing price for three consecutive trading days on April 1, April 2, and April 3, 2025, which is an abnormal fluctuation in stock trading. After self-examination and written verification with the controlling shareholder and actual controller, as of the date of this announcement, it was confirmed that there were no major matters or important information that should be disclosed but had not been disclosed.

Spot market: Click to view SMM metal rare earth spot prices. Click to order and view SMM metal spot historical price trends. In the spot market, supported by the positive policy of export controls on some medium-heavy rare earth-related items by the two departments, the spot prices of medium-yttrium, europium-rich ore, terbium oxide, holmium oxide, gadolinium oxide, and dysprosium oxide rose.

It is reported that the market is currently paying high attention to the rare earth export control measures, with a strong wait-and-see sentiment. The overall rare earth market transactions are relatively quiet, with few active quotations from suppliers, especially for medium-heavy rare earths, and the few quotations are relatively high. Downstream buyers are also cautious, mostly making tentative inquiries, with few actual transactions.

Voices: [China Nonferrous Metals Industry Association: Chinese rare earth enterprises will strengthen compliance trade to ensure that related items are not used for military purposes or in sensitive fields.] The China Nonferrous Metals Industry Association stated that as the world undergoes rapid changes and international security faces many challenges, in order to effectively prevent rare earth-related products from flowing to improper uses and users, the Ministry of Commerce and the General Administration of Customs jointly issued an announcement on April 4 to implement export controls on some rare earth-related items, which will take effect immediately upon release. Rare earth-related items have dual-use attributes, and the Chinese government, fully drawing on international practices, has implemented export controls on rare earth-related items, demonstrating its firm determination to safeguard world peace and security. From past practices, as long as enterprises do not engage in activities that harm China's national sovereignty, security, and development interests, export controls will not affect their normal business and trade activities, nor will they affect the stability and security of the international industrial chain and supply chain. Chinese rare earth enterprises will strengthen compliance trade in accordance with the announcement, adhere to high-level opening-up, ensure that related items are not used for military purposes or in sensitive fields, and continue to strengthen international mutually beneficial cooperation with friendly countries, deepen the synergy and integration of upstream and downstream enterprises in the industrial chain, and achieve a virtuous interaction between high-quality industrial development and high-level security.

Tianfeng Securities believes that due to the scarcity and high-end applications of medium-heavy rare earths, the export controls will further consolidate China's position in the rare earth industrial chain. Currently, it is a time of resonance between the fundamentals and sentiment of the rare earth sector, with the price center of rare earths rising, while the equity side has not fully reflected this, so the investment opportunities in the sector should be valued.

Guotai Haitong Securities research report stated that after the US equivalent tariffs were implemented, China timely introduced export controls on medium-heavy rare earths, which is expected to leverage China's strategic advantages in the rare earth industry. Overseas related industries may start early restocking, driving price increases. Under the catalysis of policies, sentiment, and supply and demand, the rare earth magnet sector is expected to accelerate.

Huatai Securities research report stated that on April 4, the Ministry of Commerce and the General Administration of Customs issued an announcement to implement export controls on medium-heavy rare earth-related items. In this export control, in addition to samarium-cobalt permanent magnet materials mainly used in the military field, it mainly targets NdFeB permanent magnet materials containing dysprosium/terbium. In 2024, China's NdFeB exports accounted for about 20% of total production, but the export data includes NdFeB without medium-heavy rare earths. This is only a control, and exports are still possible after declaration and approval, so the actual impact is smaller than the theoretical calculation. This control may lead to a split in the domestic and overseas price systems, with overseas prices likely to be higher than domestic prices and with a higher probability of rising. The medium-term price trend in China will mainly be determined by the domestic quota and demand prosperity in 2025. As a substitute for export tariffs, the strategic position of rare earths is self-evident, and the sector's allocation value should be valued. In addition, this control mainly targets medium-heavy rare earths and NdFeB materials containing medium-heavy rare earths, so attention should be paid to medium-heavy rare earth-related targets.

Guoyuan Securities pointed out that with the continuous development of industries such as NEVs, wind power, and industrial robots, high-performance NdFeB permanent magnet materials are ushering in broad development opportunities. "Carbon neutrality" and "carbon peak" will further drive downstream demand. China's rare earth industry is in a period of accelerated transformation, with continuous optimization of the industrial structure. As the application scope of rare earths in emerging fields continues to expand, coupled with industry technological progress and national policy support, the supply-demand pattern of rare earths is expected to continue to improve, and the industry will usher in a period of rapid growth.

Recommended reading: Two departments: Implement export controls on some medium-heavy rare earth-related items.

데이터 출처 설명: 공개 정보를 제외한 모든 데이터는 SMM이 공개 정보, 시장 커뮤니케이션 및 SMM 내부 데이터베이스 모델을 기반으로 가공한 것입니다. 본 자료는 참고용이며 의사결정 권고를 구성하지 않습니다.

문의 사항이 있거나 자세한 정보를 원하시면 아래로 연락해 주시기 바랍니다: lemonzhao@smm.cn

리서치 보고서 열람 방법에 대한 자세한 내용은 아래로 문의하시기 바랍니다:service.en@smm.cn

관련 뉴스

2026년 9월 12일 00:05

[SMM 분석] 수익성 개선에도 공급 탄력성은 제한적: 2026년 상반기 미주 몰리브덴 광산 리뷰

[SMM 분석] 수익성 개선에도 공급 탄력성은 제한적: 2026년 상반기 미주 몰리브덴 광산 리뷰

2026년 상반기, 미주 지역 몰리브덴 공급의 양극화가 심화되었다. 광산 수익성 개선에도 불구하고 전체 생산량은 반등하지 못했다. 하반기 일부 대형 광산의 회복이 예상되지만 공급 탄력성은 여전히 제한적이다. 어떤 사업장이 공급을 저해하고 있으며, 추가 성장은 어디에서 나타날 것인가? SMM 데이터는 시장이 “마진 강세, 생산 양극화, 집중적 증분 이익”이라는 새로운 국면에 진입했음을 보여준다.

2026년 9월 12일 00:05

2026년 9월 11일 20:21

[SMM 크롬 주간 리뷰] 크롬 광석 유입 반등, 중국 항만 재고 증가, 짐바브웨 페로크롬 생산능력 확대 추진

[SMM 크롬 주간 리뷰] 크롬 광석 유입 반등, 중국 항만 재고 증가, 짐바브웨 페로크롬 생산능력 확대 추진

2026년 9월 11일.

2026년 9월 11일 20:21

2026년 9월 11일 20:12

[SMM 크롬 플래시] 타리사의 크롬-PGM 주력 광산 지하 전환, 순조롭게 진행 중

[SMM 크롬 플래시] 타리사의 크롬-PGM 주력 광산 지하 전환, 순조롭게 진행 중

타리사는 남아프리카 부시벨트 콤플렉스 남서부에 위치한 주력 타리사 광산의 지하 채굴 전환이 일정과 예산 범위 내에서 진행되고 있으며, 짐바브웨의 카로 플래티넘 프로젝트 건설 자금 조달과 병행하여 추진되고 있다고 확인했다. 2026년 3월에 착수한 아폴로 지하 복합단지 개발은 이번 분기에 첫 원광 생산을 목표로 진행 중이며, 2029년 3분기까지 월 25만 5천 톤의 안정적 생산 체제를 갖추는 것을 목표로 하고 있다. 오리온 복합단지는 2031 회계연도에 첫 원광 생산을, 2033년 3분기까지 안정적 생산 체제를 갖추는 것을 목표로 뒤따를 예정이다. 타리사는 두 지하 복합단지가 현재 노천광이 고갈된 이후에도 60년 이상 타리사 광산의 채굴을 연장할 것으로 예상된다고 밝혔다. 타리사 광산은 동일한 광체에서 PGM과 함께 크롬 정광을 공동 생산하고 있다. 지하 프로젝트는 압사은행과 스탠다드은행의 개발 대출과 네드뱅크의 자산 기반 회전 신용 공여를 통해 전액 자금이 조달되며, 이 자금은 이번 주 카로를 위해 조달한 3억 달러 규모의 노르딕 본드와는 별도로 운용된다. 회사는 아폴로와 오리온의 향후 원광 생산량 중 크롬 함유 광석과 PGM 함유 광석의 비중을 구분하여 공개하지 않았으며, 두 복합단지가 안정적 생산 체제로 확대됨에 따라 타리사의 크롬 정광 생산량에 미치는 구체적인 영향은 아직 명확히 밝혀지지 않았다.

2026년 9월 11일 20:12