\SHANGHAI, Jul. 6 (SMM) – China’s demand for rare earth permanent magnet will hit 150,000 tonnes by 2010, cnmn.com reported, quoting a research report from Shenyin Wanguo Securities.
The development of wind power and new energy vehicle industries will boost demand for rare earth permanent magnet materials. NdFeB demand from wind power sector grew 28% year-on-year to 4,074 tonnes in 2014, Shenyin Wanguo Securities said.
Besides, hoisting machinery and various electric motors will also stimulate demand for rare earth permanent magnet materials.
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