SMM January 26 News: In January 2025, domestic NdFeB magnetic material production decreased by approximately 8% compared to the previous month. According to an SMM survey, at the beginning of January, some year-end stockpiling orders emerged in the downstream market, prompting magnetic material enterprises to actively ramp up production to fulfill these orders, with production enthusiasm peaking for a time. However, production at a few small magnetic material factories significantly declined due to insufficient orders.
As the Chinese New Year approached, starting from mid-to-late January, many magnetic material enterprises gradually stopped taking new orders and suspended external quotations, focusing their efforts on pre-holiday production preparations. This year, market orders fell short of expectations, and most enterprises faced unsatisfactory order-taking conditions, leading to an early halt in production and holiday closures. By around January 20, most magnetic material enterprises had already begun their holiday breaks, with only a few large enterprises continuing production to complete urgent orders. Therefore, although the January production and holiday shutdowns caused by the Chinese New Year led to a decline in NdFeB magnetic material production, the high production enthusiasm at the beginning of the month mitigated the overall decline.
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Looking ahead to February, due to the impact of the Chinese New Year holiday, production in the magnetic material market is expected to remain stagnant at the beginning of the month. As the holiday concludes, enterprises will gradually resume production, but with employees not yet fully returning to work, the market is expected to normalize only by mid-February. Consequently, magnetic material production in February may continue to experience a certain degree of decline.
