China PrNd Alloy Output Grew in February, Forecast for March

SHANGHAI, Mar 9 (SMM) – Domestic output of PrNd alloy in February 2023 stood at 5,244 mt, up 0.4% MoM.

Sichuan accounted for most of the output growth, while the output in Jiangsu decreased slightly. Output in other regions changed little compared with January.

In February, the price of PrNd alloy remained on the downswing.

After the CNY holiday, the orders of downstream magnetic material enterprises remained sluggish. Most of them mainly worked through existing inventories.

However, considering that the reduction and shutdown of production will cause great losses to metal manufacturers, metal factories mostly maintained normal production despite the weak market. Some manufacturers even reported output growth. The output in Sichuan grew by 7.5% month on month.

SMM predicts that the output of PrNd alloy may continue to increase slightly in March 2023.