With the advent of the era of "everything driven by electricity", the development prospects of new energy vehicles, industrial motors and industrial robots are tremendous, which has triggered the market's growing demand for high-end magnetic materials. Rare earth has drawn growing market attention. This has been reflected in both the stock market and the spot market recently. The share prices of related listed firms soared. In the spot market, SMM prices of praseodymium-neodymium metal, which determine the price trend of NdFeB, especially high-performance NdFeB, hit a five-month high of 905,000 yuan/mt on February 1.
Many industry research institutes are bullish over rare earth prices. For example, CICC pointed out that slower supply growth coupled with broad-based demand recovery will keep rare earth prices in an upward path.