CITIC: Promote equipment renewal, trade-in, rare earth permanent magnet motor upstream and downstream benefit
CITIC CIC research report pointed out that the National Development and Reform Commission “four major actions” to promote large-scale equipment renewal and consumer goods trade-in, science and technology innovation to lead the construction of a modern industrial system, to accelerate the formation of new quality productivity. Benefit from equipment renewal, low-carbon, energy-saving rare earth permanent magnet motors are expected to open the demand to replace the new market; consumer goods and rural areas, new energy vehicles are expected to exceed the expected growth. Rare earth prices have slowed down recently, by the impact of long term purchase, spot market supply is tight, prices are expected to bottom out and rebound. 2024 the first batch of light and heavy rare earth mining and smelting and separating indicators were 124,860 tonnes, 10,140 tonnes, 127,000 tonnes, respectively, year-on-year +14.5%, -7.3%, +10.4%, the growth rate of light rare earth mining indicators for three consecutive years of slowing down, heavy rare earths Mining indicators for two consecutive years of decline, supply and demand pattern is expected to optimise the rare earth prices bottomed out, rare earth and permanent magnet materials industry will benefit.
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