China's NEV Production Boosts NdFeB Demand in Automotive Sector, Up 18.8% YoY

Published: Jun 11, 2026 09:08

Save

[SMM Rare Earth Magnetic Materials Newsflash] Recently, CAAM released data showing that China's NEV production in May 2026 reached 1.554 million units, while total automobile production reached 2.616 million units. Based on the SMM survey and model, NdFeB demand from NEVs in China was 6,641.1 mt in May 2026, and total NdFeB consumption in the automotive industry was 6,945.8 mt, up 18.8% YoY. As of now, the automotive sector remains the largest NdFeB consumer, and its share of total consumption is expected to be approximately 30% in 2026.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

9 hours ago

Pr-Nd Led the Gains in H1: Semi-Annual Reports from 10 Rare Earth Enterprises Deliver Good News; With the Peak Season Approaching, Can the Market Rally Restart? [SMM Special Topic]

9 hours ago

21 hours ago

Germanium, Tantalum, Indium, and Pr-Nd Soar This Year, Multiple Enterprises Report Positive Interim Earnings Forecasts, Minor Metal Sector Strengthens, China Rare Earth Hits Limit Up [SMM News Flash]

21 hours ago

23 hours ago

[SMM Analysis] Pr-Nd Metal Prices Rebound Slightly, Market Awaits Peak Season Demand

SMM, Aug 14: Pr-Nd metal prices fell 1.13% this week but rebounded near the weekend to RMB 875,000/mt. Higher Pr-Nd oxide prices offered support, while volatile raw material costs kept some producers cautious. Net profit rose to RMB 2,574/mt, ending three weeks of losses. Downstream demand remained weak, but orders may improve as motor makers resume operations and the peak season approaches. Restocking could support prices, though gains depend on demand recovery and new oxide capacity.

23 hours ago