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%.

A landmark collaboration has emerged in Australia's mining sector—GreenTech Metals and Artemis Resources have officially announced the merger of their lithium exploration assets in Western Australia's Pilbara region, forming a new joint venture named Andover Lithium.

In March 2025, China's lithium hexafluorophosphate (LiPF₆) industry experienced a positive trend, with production rising by 13% month-on-month and 51% year-on-year

In March 2025, China's electrolyte industry witnessed a positive development trend.

[SMM Analysis] On the afternoon of April 2nd local time, according to the White House statement, the 10% "benchmark tariff" will take effect at 00:01 Eastern Time on April 5th. The higher "reciprocal tariff" targeting specific countries will come into force at 00:01 on April 9th. After the reciprocal tariff takes effect, considering all the tariff policies, the combined tariff rate for energy storage cells will reach: 3.4% basic tariff + 7.5% Section 301 tariff + 20% general tariff + 34% reciprocal tariff = 64.9%.

SMM Analysis: Downstream Demand Improved, Anode Raw Material Coke Prices Fluctuated Rangebound This Week. SMM, April 3: The average price of low-sulphur petroleum coke this week was 4,550 yuan/mt, up 0.5% WoW. Demand side, as market demand recovered, downstream anode and cathode...