【SMM Analysis】Slowdown in Approval Processes and Seasonal Lull Weigh on NdFeB Exports; Outlook for June Remains Weak
According to SMM statistics, China’s exports of NdFeB magnets totaled 4,730 tons in May 2026, marking a month-on-month decline of 7.72%. However, volumes surged by 281.84% year-on-year. The sharp YoY increase is primarily attributed to a low base effect caused by export controls in May 2025. The MoM drop, meanwhile, reflects both seasonal weakness in overseas demand and tangible changes in domestic export licensing procedures.