JLM Baotou magnet expansion accelerates global NdFeB supply

Magnetic Metals

JLM Baotou magnet expansion advances phase-3 construction to meet booming demand. JLM Baotou magnet expansion will add 20,000 t/yr of high-performance magnets. JLM Baotou magnet expansion lifts total Baotou capacity to 40,000 t/yr by end-2025.

Capacity and timeline

JLM is investing 1.05bn yuan to build phase-3 in Baotou. The plant targets start-up before the end of 2025. Meanwhile, current Baotou capacity stands at 20,000 t/yr across two phases. Ganzhou adds another 15,000 t/yr of permanent magnets. As a result, group capacity reaches 35,000 t/yr today. The company aims for 60,000 t/yr by 2027.

Demand drivers and export access

China’s NEV boom is stretching magnet supply across platforms. Production reached 6.97 million units in January–June. Sales climbed 40% year on year in the same period. Consequently, magnet demand from NEVs, inverters, and robotics remains strong. Policy support should sustain growth into 2025. JLM also secured permits to ship to the US, Europe, and Southeast Asia. Therefore, Baotou will anchor exports while serving domestic leaders.

The Metalnomist Commentary

Phase-3 cements Baotou as a top NdFeB hub with global reach. Watch qualification lead times, heavy-REE thrift, and yield as volumes scale. Pricing discipline will hinge on EV cadence and competing capacity ramps.