Ningbo Yunsheng NdFeB Magnet Output Rises on NEV and AI Terminal Demand

Ningbo Yunsheng

Ningbo Yunsheng NdFeB magnet output increased in 2025 as demand from new energy vehicles, consumer electronics, industrial motors and robots supported China’s rare earth permanent magnet sector. The company produced 14,856t of finished neodymium-iron-boron magnets during the year, up 11% from 2024.

Ningbo Yunsheng NdFeB magnet output growth was matched by stronger sales. The company sold 14,197t of finished NdFeB magnets in 2025, up 10% from a year earlier, while inventories rose by 47% to 2,055t.

The inventory increase shows that supply growth remains strong even as downstream demand improves. For China’s magnet industry, the key question is whether expanding production capacity can stay aligned with demand from EVs, AI devices, robots and high-efficiency motors.

NEVs and Consumer Electronics Strengthen Magnet Revenue

Yunsheng’s revenue rose by 6% on the year to 5.46bn yuan, while profit increased sharply to 330.82mn yuan from 95mn yuan in 2024. The improvement reflected stronger demand in its core downstream sectors and higher-value magnetic component sales.

Revenue from NdFeB permanent magnetic materials sold as magnetic components rose by 60% to 705mn yuan. This suggests that Yunsheng is gaining value not only from magnet volume, but also from more advanced component-level products.

The NEV sector remained the company’s largest growth driver. Yunsheng’s sales revenue from new energy vehicle applications rose by 9.6% to 2.55bn yuan in 2025.

China sold 12.8mn NEV passenger cars in 2025, up 18% from a year earlier. NEVs accounted for 54% of total domestic passenger car sales, reinforcing the role of electric drivetrains in magnet demand.

NdFeB magnets are critical for high-efficiency motors used in electric vehicles, power steering systems, industrial automation and robotics. As vehicle electrification deepens, magnet suppliers remain closely tied to demand for neodymium, praseodymium, dysprosium and terbium.

Consumer electronics also supported Yunsheng’s performance. Revenue from the sector rose by 0.8% to 1.3bn yuan, helped by rapid growth in AI terminal product shipments and continued development of generative AI technologies.

Baotou Expansion Adds High-Performance Magnet Capacity

Ningbo Yunsheng NdFeB magnet output is set to receive further support from capacity expansion. The company had 26,000 t/yr of rough NdFeB magnet capacity and 10,000 t/yr of grain boundary diffusion capacity by the end of 2025.

Grain boundary diffusion is strategically important because it improves magnet performance while helping manage the use of heavy rare earths. This matters for high-performance applications where heat resistance, magnetic stability and material efficiency are critical.

Yunsheng is expanding its Baotou site to 15,000 t/yr of high-performance permanent magnetic materials by June 2026. The first 5,000 t/yr phase has been operating since June 2025, and the second 10,000 t/yr phase is expected to come on line in 2026.

Baotou is a strategically important location because it sits close to China’s rare earth resource and processing base. This gives magnet producers logistical and supply-chain advantages in sourcing rare earth materials and scaling downstream manufacturing.

The expansion also highlights China’s continued dominance in the rare earth magnet value chain. As global demand rises from EVs, AI hardware, robotics, industrial motors and clean-energy systems, Chinese producers are still adding capacity faster than most overseas competitors.

The Metalnomist Commentary

Yunsheng’s results show that rare earth magnet demand is broadening from EVs into AI terminals, robotics and high-efficiency motors. The next strategic risk is not only demand growth, but whether rising Chinese magnet capacity creates inventory pressure while tightening demand for high-quality rare earth feedstock.

Ntaka Hill Nickel and Copper Project Advances with Ningbo–STAMICO Partnership

Ningbo Stamico

The Ntaka Hill nickel and copper project is moving forward after years of dispute. A new processing plant is planned before end-2025. The Ntaka Hill nickel and copper project will use Chinese technologies to optimize output. Indiana’s 2024 settlement cleared the path for development. Therefore, the Ntaka Hill nickel and copper project regains momentum in Tanzania’s battery metals landscape.

Project restart, licenses, and near-term milestones

STAMICO and Ningbo Shuangbeng signed a tentative agreement on 10 August. As a result, they will revive the stalled Ntaka Hill assets. STAMICO will complete geological assessments and resource evaluations. It will validate existing drilling and update resource estimates. Meanwhile, it will seek a license for an unexplored section. These steps underpin financing, plant design, and permitting.

Processing plant plan, funding, and technology transfer

Coast Nickel targets plant commissioning before end-2025. The facility will process ore from the Ntaka Hill site. Ningbo Shuangbeng stands ready to fund and supply technology. However, construction depends on rapid geological verification. The approach aims to shorten time to first product. Consequently, Tanzania strengthens its nickel and copper value chain.

The Metalnomist Commentary

A credible restart hinges on verified resources, EPC discipline, and power access. If milestones hold, Ntaka Hill could rejoin Africa’s emerging battery metals hubs. Watch the verification timeline and offtake traction through 2025.

Rare Earth Metal Alloy Production Expands as NRE and Ningbo Funeng Plan Baotou Plant

Northern Rare Earth

Rare earth metal alloy production is set to expand in China as Northern Rare Earth and Ningbo Funeng prepare a new plant in Baotou. The project strengthens China’s downstream rare earth value chain at a time when magnet, motor, and advanced materials demand continues to rise.

Northern Rare Earth will invest 112 million yuan to form Northern Funeng New Material with Ningbo Funeng. The joint venture will build a rare earth metal alloy production line in the motor industrial park of Baotou’s rare earth high-tech zone.

The project will require total investment of 290 million yuan. It is designed for 10,000 tonnes per year of rare earth metals, including cerium metal, cerium/praseodymium-neodymium alloy, ferro-dysprosium, and ferro-holmium alloys.

Baotou Project Moves NRE Further Downstream

Northern Rare Earth will hold 51% of the new venture, while Ningbo Funeng will own the remaining stake. The companies have not yet disclosed the construction schedule or expected launch date.

The project gives NRE a broader downstream product base. The company’s metal product structure has previously focused on praseodymium-neodymium metal and lanthanum/cerium metal.

The new line adds high-purity alloys and functional rare earth alloys containing heavy rare earth elements. This is strategically important because dysprosium and terbium are critical for high-performance permanent magnets used in motors, vehicles, robotics, and energy systems.

Alloy Capacity Supports Magnet and Motor Supply Chains

Rare earth metal alloy production is becoming more important as demand grows for permanent magnets and rare earth functional materials. By locating the plant in Baotou, NRE is reinforcing the city’s role as a major rare earth processing and manufacturing hub.

The project is expected to generate annual revenue of about 1.37 billion yuan over an estimated 20-year operating period. Forecast net profit is 24.69 million yuan per year, while the investment payback period is estimated at 12.52 years, including construction.

NRE also expects stronger earnings in 2025. The company forecasts profit of 2.18 billion to 2.36 billion yuan, up sharply from 1 billion yuan a year earlier, supported by higher sales, stronger production, destocking, and improved rare earth prices.

The new joint venture therefore fits a wider industrial strategy. NRE is not only increasing output but also moving toward higher-value alloy products that serve China’s magnet, motor, and advanced manufacturing supply chains.

The Metalnomist Commentary

China is deepening control over rare earth value addition, not only mining and oxide production. The Baotou project shows how alloy capacity is becoming a strategic layer between rare earth separation and high-performance magnet manufacturing.

China's Northern Rare Earth Forms Joint Venture for NdFeB Magnet Production

Northern Rare Earth

China's Northern Rare Earth (NRE), one of the country's leading light rare earths producers, has announced the formation of a joint venture (JV) to construct a high-performance neodymium-iron-boron (NdFeB) magnet production plant in Baotou, located in the Inner Mongolia region. This initiative is part of NRE's strategic push to expand its footprint in the magnet and renewable energy sectors.

The JV, named Northern Zhaobao Magnet (Inner Mongolia), will focus on producing NdFeB permanent magnets, which are essential for a variety of high-tech applications, including wind turbines, compressors, and industrial motors. The plant will have a production capacity of 3,000 tons per year. NRE has committed a significant investment of 40 million yuan ($5.6 million) in the JV, which will be a collaborative effort with well-established magnet manufacturers Ningbo Zhaobao Magnet and Ningbo Souwest Magnet, alongside Suzhou Torin Drive, a key equipment producer.

The JV has a registered capital of 100 million yuan, with ownership stakes distributed as follows: NRE holds 40%, Ningbo Zhaobao Magnet 35%, Torin Drive 12.5%, and Ningbo Souwest Magnet 12.5%. Construction is slated to be completed by May 2025.

This move marks another key development in NRE's ongoing expansion within the rare earth industry. Recently, the company commenced operations at its first phase of a rare earth smelting upgrade plant in Baotou Huamei, a wholly-owned subsidiary. The plant is set to become the world's largest rare earth feedstock production facility, with an impressive extraction and separation capacity of 106,661 tons per year (t/yr) of rare earth oxide (REO). Furthermore, its processing capacity for mixed rare earth concentrate is set at 198,000 t/yr, which is equivalent to 115,018 t/yr of 58.09% REO, alongside precipitation and crystallization capacities of 141,070 t/yr REO.

Despite the strong push for growth, NRE's financial performance has been affected by weaker-than-expected demand in the global rare earth market. In the third quarter, the company posted a 1.5% year-on-year revenue increase, reaching 8.56 billion yuan, while its net profit saw an 11% increase to 359.92 million yuan. However, NRE's performance for the first three quarters of 2024 showed a 14% decline in revenue to 21.55 billion yuan, and a significant 71% drop in net profit, which fell to 405.32 million yuan. The weaker-than-expected demand and lower rare earth prices—partly due to abundant spot supplies and insufficient growth in consumer demand—continue to weigh on the company's profits. The price of praseodymium-neodymium metal dropped by 28% year-on-year, with the average price during January-September falling to 477 yuan/kg.

Strategic Implications and Market Outlook

NRE's decision to enter the NdFeB magnet production market aligns with China's broader ambitions to dominate the rare earth sector, particularly in materials critical for renewable energy applications. As the world transitions toward cleaner energy sources, demand for NdFeB magnets is expected to grow, driven by the proliferation of electric vehicles, wind energy, and other green technologies.

However, NRE's profitability is under pressure due to the current low prices of rare earth metals, which could dampen its short-term outlook. The company's performance in the fourth quarter will depend on factors like global rare earth prices, market demand for clean energy technologies, and the success of its ongoing projects, such as the Baotou Huamei plant.

Cerium NdFeB Magnet Project Strengthens Northern Rare Earth’s Downstream Strategy

Northern Rare Earth

Cerium NdFeB magnet project development is becoming a stronger part of China’s rare earth industrial strategy as Northern Rare Earth moves further into cost-optimized permanent magnet materials. The company plans to build a 10,000 t/yr plant in Baotou, Inner Mongolia, through a new joint venture with Ningbo Shuoteng.

The project will produce neodymium-iron-boron magnets containing cerium, linking Northern Rare Earth’s light rare earth resource base with downstream magnet manufacturing. The structure also gives the company a clearer route to absorb cerium supply into higher-value functional materials.

Northern Rare Earth will invest 116mn yuan to form Northern Shuoteng Magnetics with Ningbo Shuoteng, a producer of cerium-iron-boron magnets. The joint venture will require total investment of Yn595mn, with Northern Rare Earth holding 34pc and Ningbo Shuoteng holding the remaining stake.

The cerium NdFeB magnet project will be built in two phases. Each phase will add 5,000 t/yr of capacity. The first phase will require Yn440mn and a 20-month construction period, while the second phase will require around Yn155mn and a similar construction timeline.

Cerium Magnet Demand Supports Light Rare Earth Consumption

Cerium-based magnet production is gaining importance because it can reduce material costs in selected applications. CeFeB magnets are already used in lower-priced electric vehicles, household appliances, two-wheelers, and lower-end motors where cost competitiveness matters more than maximum magnetic performance.

The new cerium NdFeB magnet project shows how China is trying to create more industrial demand for abundant light rare earth elements. Cerium and lanthanum often face weaker pricing dynamics than neodymium and praseodymium because supply growth can exceed high-value demand. Magnet substitution gives producers another channel to improve consumption balance.

Northern Rare Earth said China’s CeFeB magnet output is expected to continue rising in the next few years. The company estimated that China’s CeFeB output reached more than 100,000 t in 2025, showing rapid expansion in cost-sensitive magnet applications.

This trend matters for the broader rare earth supply chain. If cerium-containing magnets continue to gain share in lower-cost motors, they could reduce pressure on more expensive rare earth inputs in certain segments. However, high-performance EV traction motors, wind turbines, aerospace systems, and defense applications will still require stronger magnet chemistries.

Cerium Prices Rise as Destocking Improves Market Balance

Higher CeFeB output has already supported stronger consumption of cerium products in China. Northern Rare Earth said increased use of cerium metal in magnet manufacturing helped lift domestic spot prices for cerium oxide.

Cerium oxide prices have been rising since September 2025. Prices for 99.5-99.9pc cerium oxide were assessed at Yn13,500-14,500/t ex-works, up 28pc at the midpoint from Yn10,500-11,500/t ex-works on 23 September 2024.

The price increase reflects a more constructive market for light rare earth products. Northern Rare Earth said its destocking of lanthanum and cerium products made notable progress in 2025, with sales exceeding production for the first time. Stronger restocking demand inside and outside China also supported the improvement.

The company expects 2025 profits to rise sharply to Yn2.18bn-2.36bn, compared with Yn1bn a year earlier. Higher sales and production of rare earth oxides, metals, functional materials, and permanent magnet motors supported the earnings outlook. Firmer rare earth prices and improved inventory discipline also helped profitability.

The cerium NdFeB magnet project therefore carries both operational and market significance. It is not only a downstream expansion, but also a mechanism for improving the value chain position of cerium. For Northern Rare Earth, this creates a more integrated model from oxide and metal production to functional magnet materials.

The Metalnomist Commentary

Cerium magnet growth shows China’s ability to turn oversupplied light rare earths into usable industrial demand. The key strategic point is not only lower magnet cost, but better control over the full rare earth value chain.

Ronbay Secures Major Sodium-Ion Battery Cathode Order, Strengthening Market Presence

Ningbo Ronbay

Expanding Sodium-Ion Battery Cathode Production

Ningbo Ronbay, a leading Chinese battery cathode active material (CAM) manufacturer, has secured a 3,000-tonne order for sodium-ion battery cathode material from an undisclosed client. The company announced the deal on January 20, reinforcing its position as a key player in China’s sodium-ion battery market.

Ronbay has been heavily investing in sodium-ion cathode materials, committing 3 billion yuan ($413 million) in September 2023 to construct a 50,000-tonne-per-year production complex, which is set to launch by 2026. This investment aligns with the growing global demand for sodium-ion batteries, expected to reach 23GWh in 2025.

China’s Sodium-Ion Battery Industry Gains Momentum

China’s leading battery manufacturers, including CATL, BYD, and Hithium, have accelerated their sodium-ion battery production. BYD, for example, started construction on a 30 GWh per year sodium-ion battery plant in Xuzhou, Jiangsu province, in early 2024. These expansions indicate increasing market confidence in sodium-ion battery technology, particularly for two-wheeled and three-wheeled vehicles, energy storage, and power applications.

The Chinese government has also actively promoted sodium-ion battery development as part of its 2021-2025 energy strategy, emphasizing the battery’s cost advantages, resource abundance, and environmental benefits compared to lithium-ion batteries. However, despite strong governmental backing, sodium-ion battery shipments in 2024 fell short of earlier expectations due to higher manufacturing costs compared to lithium-ion and lead-acid batteries, according to Chinese research institution EV Tank.

Ronbay’s Role in the Growing Sodium-Ion Market

With this latest order, Ronbay strengthens its leadership in sodium-ion cathode production, ensuring steady market growth despite industry challenges. The company’s large-scale investment and expanding production capacity position it to capitalize on rising sodium-ion battery adoption while supporting China's push for alternative battery technologies.

As demand for low-cost and sustainable energy storage solutions rises, sodium-ion batteries could play a crucial role in diversifying the global battery supply chain, particularly as a viable alternative to lithium-ion technology.

Shanshan Boosts Anode Output and Sales in 2024 Amid EV Market Growth

Shanshan

Lower Feedstock Costs and Rising EV Demand Drive Performance

Ningbo Shanshan, a diversified Chinese new energy firm, increased both anode material production and sales in 2024. The company responded to rising demand from China’s rapidly expanding new energy vehicle (NEV) sector.

Shanshan produced 354,605 tons of battery-grade anode materials in 2024, up 27% from 279,019 tons in 2023. Sales volumes climbed 28%, reaching 339,536 tons, compared to 264,361 tons the previous year.

The company’s anode segment revenue reached 8.2 billion yuan (US$1.1 billion), growing 12% year-on-year. This increase aligns with higher sales and cost efficiencies across its production chain.

Falling Graphite Prices Support Margins

Shanshan's feedstock costs declined to 2.9 billion yuan, down 3.3% from 3 billion yuan in 2023. The reduction stems from falling prices of graphite flake, a key raw material for anode production.

These favorable input costs helped the company maintain profitability while scaling its output. As NEV demand accelerates, Shanshan is poised to remain a key player in China's battery materials supply chain.

Chinese Nickel Producer Lygend Begins Cobalt Production in Indonesia

In a significant milestone, Chinese nickel producer Ningbo Lygend commenced cobalt metal production on Indonesia's Obi Island in early July. This marks the first instance of a Chinese refinery producing cobalt metal overseas. The initial phase of Lygend's project has a production capacity of 4,000 tons per year, potentially expanding to 6,000 tons annually.

"Whether and when the second phase (2,000 tons per year) will begin construction depends on market conditions," a source informed Metalnomist. The produced cobalt will be distributed to China and other international markets.

Additionally, Lygend's Indonesian subsidiary launched the third production line at its ONC nickel high-pressure acid leaching (HPAL) project on July 1. The HPAL project aims to produce mixed hydroxide precipitate (MHP), with a portion processed into cobalt sulfate, cobalt metal, and nickel sulfate.

Lygend's cobalt production in 2023 was approximately 7,000 tons metal equivalent, and it is expected to increase to around 10,000 tons this year.

China's LMFP Battery Plant Boosts Cathode Material Market

Battery LFP

China’s LMFP battery materials sector takes a leap forward with Shanxi Tewashi’s 100,000 t/yr plant launch.

China’s Shanxi Tewashi Energy has officially started production at its new 100,000 t/yr lithium ferro-manganese phosphate (LMFP) cathode material plant. Located in Changzhi city, the facility is equipped with 16 fully automated production lines and marks a major investment in next-generation lithium-ion battery technology. The company, formed in late 2023, is a joint venture between Qianyun High-tech Energy and state-owned Shanxi Changgao Zhihui Group.

This launch further underscores China’s strategic focus on expanding domestic LMFP output. LMFP cathode materials offer higher energy density and lower costs compared to traditional lithium iron phosphate (LFP), making them attractive for electric vehicles. However, market analysts note that LMFP’s shorter cycle life and reduced discharge performance remain challenges for widespread adoption. Nevertheless, Chinese firms are doubling down on development. Major players like Hunan Yuneng and Ningbo Ronbay are building large-scale LMFP facilities to capture future market share.

The push into LMFP reflects China’s evolving battery supply chain strategy. As battery manufacturers aim to improve performance and reduce reliance on critical raw materials like nickel and cobalt, LMFP offers a viable alternative. With new LMFP projects launching across Shanxi, Hubei, and Gansu provinces, China is positioning itself as the global leader in diversified cathode active materials. The ramp-up of LMFP output may also influence global pricing dynamics for both LFP and emerging sodium-ion chemistries.

The Metalnomist Commentary

China's aggressive expansion of LMFP cathode production signals a pivot toward alternative battery chemistries. As the global EV sector seeks higher energy density at lower cost, Chinese manufacturers are racing to commercialize LMFP at scale—potentially reshaping the future of EV battery composition.

CNGR Raises CAM Precursor Output and Sales in 2024

CNGR

CNGR Boosts Output Across Key Battery Materials

China’s CNGR Advanced Material increased its cathode active material (CAM) precursor production and sales in 2024, reflecting robust battery sector demand. Total CAM precursor output rose by 2.4% year-on-year to 291,019 tonnes, including nickel-cobalt-manganese (NCM) precursor, cobalt tetroxide, and iron phosphate.

The company’s operating capacity averaged 63%, with cobalt tetroxide production running at 102% capacity due to strong electronics sector demand. Production reached 192,548t NCM precursor, 26,922t cobalt tetroxide, and 71,549t iron phosphate, confirming balanced growth across its portfolio.

Sales Expansion and Global Strategic Shifts

CNGR’s total CAM precursor sales climbed 11% to 302,060 tonnes in 2024, outpacing production growth due to efficient logistics and stable client demand. The firm operates major production hubs in Hunan, Guizhou, and Guangxi, and launched Morocco’s first ternary precursor lines in January 2024.

However, CNGR will exit its Finland project, citing regulatory uncertainty and poor market conditions in Europe. This strategic pivot emphasizes the firm’s renewed focus on Asia and North Africa as growth zones.

Customer Base and Metal Diversification Efforts

CNGR supplies materials to leading battery producers including CATL, LG Chem, Samsung SDI, and Tesla, as well as CAM firms like XTC, Beijing Easpring, and Ningbo Ronbay. It began cobalt metal deliveries in July 2024 from its new 2,000t/yr facility in Guangxi, marking a downstream integration move.

This expansion into refined cobalt suggests a broader vertical integration strategy aimed at reinforcing CNGR’s presence in the global battery value chain.

The Metalnomist Commentary

CNGR’s 2024 performance shows strong resilience and strategic recalibration. While European uncertainties prompted a project withdrawal, the firm’s pivot toward Morocco and cobalt refining in Guangxi signals regional diversification and resource control. Expect CNGR to deepen its influence in battery metals amid growing EV demand.

Shidai Ruixiang Launches LMFP Battery Material Plant in Gansu

Baiyin Nonferrous Group

China’s Shidai Ruixiang has launched a new LMFP battery material plant with a production capacity of 20,000 tonnes per year. Located in Baiyin city, Gansu province, this marks the first phase of what will become the world’s largest LMFP facility. Once complete, the site will scale to 100,000 t/yr in lithium ferro-manganese phosphate production for next-generation EV battery applications.

The LMFP battery material plant is operated by Shidai Ruixiang, a joint venture between Gansu Elephent Energy and Baiyin Nonferrous Group, a major Chinese state-owned metals producer. The full project will be developed in three phases, although details for the next stages remain undisclosed. This launch reinforces China’s dominant position in advanced battery cathode material (CAM) supply chains.

China Expands LMFP Footprint in Global EV Market

LMFP materials offer higher energy density and longer driving range than traditional LFP cathodes, while keeping manufacturing costs low. However, they have shorter life cycles and reduced charge-discharge capacity, making them more suitable for mid-range EVs or power tools. Despite this, China’s battery sector is accelerating investment in LMFP research and production.

Other major CAM players such as Hunan Yuneng and Ningbo Ronbay are also expanding LMFP production. Ronbay announced a dual LMFP and sodium-ion CAM plant in Xiantao, Hubei, while Yuneng is constructing a dedicated LMFP facility. These efforts position LMFP as a potential mainstream solution for future battery platforms balancing cost, safety, and range.

Strategic Role of State-Backed Metals Companies in CAM Expansion

The Shidai Ruixiang LMFP battery material plant highlights growing integration between state-backed metals enterprises and energy storage innovation. Baiyin Nonferrous brings decades of expertise in copper and zinc processing—critical metals for battery infrastructure—into the cathode materials space. The partnership reflects China's strategy to leverage existing industrial assets for clean tech scalability.

As battery chemistries diversify in response to cost and performance demands, China’s control over both upstream raw materials and downstream manufacturing provides a distinct competitive edge in the global energy transition economy.

The Metalnomist Commentary

The LMFP battery material plant in Gansu represents a strategic shift toward diversified CAM solutions for scalable EV deployment. As Chinese producers push LMFP into the mainstream, global automakers and battery buyers will need to weigh performance trade-offs against cost and availability.

Record Highs in China's Ferro-Nickel Imports Amid Booming Stainless Steel Industry in 2024

Ferro-Nickel

Surging Demand Drives Unprecedented Import Volumes

In 2024, China's ferro-nickel imports reached a new record, driven by robust demand from its stainless steel mills and alloy producers, particularly those with operations in Indonesia. The total import volume surged to 8.98 million tons, marking a 6.2% increase from the previous year. A significant portion of these imports, amounting to 8.67 million tons, came from Indonesia, reflecting a 9.5% rise over the period.

Indonesian Production Boom Fuels Export Growth

The surge in imports from Indonesia is attributed to new production capacities at companies like Lygend, Nadesico Nickel Industry (NNI), and Shuoshi. These firms have effectively compensated for reduced shipments from other countries such as New Caledonia, Colombia, and Brazil, which saw declines in their export volumes to China by 27%, 0.9%, and 36% respectively.

Strategic Expansion and Technological Advancements in Nickel Production

The expansion in Indonesia includes significant developments like Shuoshi's commissioning of 12 Rotary Kiln Electric Furnaces (RKEF) and NNI's ongoing project, which involves six of eight planned RKEF lines. Moreover, Ningbo Lygend's nickel pig iron (NPI) project showcases substantial production, with its subsidiary HJF already at full capacity since August 2023, and its second phase under construction aiming for completion by 2026. NPI, with its high nickel content, remains crucial for stainless steel manufacturing, underscoring the strategic importance of these expansions.

Ronbay's Rising Battery Sales Driven by EV Demand

Ningbo Ronbay, a leading Chinese manufacturer of battery cathode active materials (CAM), reported a significant increase in sales during the first half of 2024, fueled by the growing demand in the electric vehicle (EV) sector. The company saw its CAM sales rise by 18% year-on-year, totaling 54,900 tonnes from January to June. The majority of these sales were in lithium-nickel-cobalt-manganese oxide (NCM), with 52,700 tonnes sold, while the remaining 2,200 tonnes consisted of other CAMs such as lithium manganese iron phosphate (LMFP).

Ronbay has diversified its product range since acquiring Tianjin Skylandone in 2022, which allowed it to add LMFP to its portfolio. This move has paid off, with LMFP shipments surging by 166% in the first half of the year, although specific volumes were not disclosed. The company also made strides in the solid-state battery market, delivering nearly 100 tonnes of 9 series solid-state battery CAM in the first quarter of 2024.

To support its growth, Ronbay has expanded its total cathode material production capacity to 200,000 tonnes per year, with significant investments in both China and South Korea. The company is actively advancing the second phase of its South Korean project, which includes the construction of a 40,000 t/yr NCM production line and a 20,000 t/yr LMFP line. Ronbay is also planning an 80,000 t/yr NCM precursor plant in South Korea and has established production facilities across various Chinese cities.

Looking ahead, Ronbay is eyeing expansion into the European and U.S. battery markets, with potential production bases in Poland and newly established subsidiaries in the U.S. This global expansion aligns with the rapid growth of China's new energy vehicle market, which saw a 32% increase in production and sales during the first half of the year, reaching 4.944 million units.

China’s Northern Rare Earth Increases Magnet Production in August

Northern Rare Earth Magnetic Material(NREMM)

China's major producer of light rare earths, Northern Rare Earth (NRE), reported a significant rise in its production of magnetic materials in August. This surge is a direct response to increased demand from key downstream industries, including the new energy vehicle (NEV) and industrial motor sectors. The company's output growth is being driven by technological advancements and upgrades within its subsidiary, Northern Rare Earth Magnetic Material (NREMM).

Technological Advancements Drive Steady Growth

NREMM has seen consistent growth over the past few months, with its magnetic material output projected to exceed 6,000 tons in August. This is a significant increase compared to April, when the output reached a record-breaking 4,000 tons, a 24.9% month-on-month rise in both production and sales.

Moreover, NREMM’s output and sales during the period from January to August increased by 18% year-on-year. This indicates a strong upward trajectory, although specific figures for magnet production and sales for 2023 and 2024 have not been provided.

Aiming for Global Leadership in Magnet Production

NRE has ambitious plans to expand its production capacity. NREMM is targeting an output capacity of 150,000 tons per year for high-performance neodymium-iron-boron alloys by the end of China’s 14th Five-Year Plan (2021-2025). This move will position NRE as a leading global player in the rare earth magnet industry.

In December 2022, NRE formed NREMM by consolidating its four wholly-owned subsidiaries: Baogang Magnetic Materials, Ningbo Zhanhao, Beijing Sanjili, and Anhui Permanent Magnet. This strategic merger is designed to create the world's largest magnet manufacturing plant in terms of production capacity.

Increasing Demand from New Energy Vehicles and Industrial Motors

NRE has highlighted the rapid development in downstream demand as a key factor behind the growth in rare earth magnetic materials. This demand surge is largely driven by the NEV and industrial motor sectors. China's NEV production from January to July totaled 5.914 million units, marking a 29% increase compared to the same period last year. Sales also saw a 31% jump, reaching 5.934 million units during the same timeframe, according to the China Association of Automobile Manufacturers.

Meanwhile, China's industrial motor sector is expected to see its sales revenue rise to 388 billion yuan ($54.67 billion) by the end of 2024, up from 372 billion yuan in 2023 and 329 billion yuan in 2020. These figures reflect the growing importance of rare earth materials in the country's industrial and technological advancements.

China Launches Initiative to Accelerate Electric Bus and Battery Replacement

In a significant move towards enhancing urban transportation, the Chinese government has announced a new initiative to promote the replacement of new energy buses and power batteries across the nation. This effort is part of a broader program unveiled in March, aimed at modernizing outdated industrial equipment and facilitating the trade-in of consumer products, with a particular emphasis on new energy vehicles.

Under the new plan, the government will provide subsidies of 80,000 yuan ($11,216) for each new energy bus replacement and 42,000 yuan ($5,893) for the replacement of power batteries in these buses. The initiative targets the nearly 100,000 older new energy buses currently in operation, many of which have been in service for over eight years.

China has been at the forefront of vehicle electrification, particularly in public transportation. Shanghai, the country’s largest city, has set an ambitious goal of achieving 100 percent electrification for both buses and taxis by 2027. Similarly, Ningbo, another major Chinese city, aims to fully electrify its bus fleet and reach 90 percent electrification for taxis within the same timeframe.

Global Rare Earth Magnet Production Set to Surge Amid Expanding NEV and Wind Sectors

Rare Earth Magnet

Expanding Global Demand for Rare Earth Permanent Magnets

Global rare earth permanent magnet output is poised for sustained growth as new and expanded manufacturing facilities come online worldwide. Demand from new energy vehicles (NEVs), wind turbines, and energy-efficient technologies is driving this acceleration. According to market participants, global output is projected to climb from 270,000 tonnes in 2023 to 310,000 tonnes in 2025, exceeding 330,000 tonnes by 2027.

China remains dominant, expected to control up to 89% of global magnet output by 2027, despite global diversification efforts spurred by export controls on medium and heavy rare earths.

China’s NEV production reached 8.23 million units between January and July 2025, marking a 39% increase year-on-year, while exports surged 85%. The China Association of Automobile Manufacturers (CAAM) forecasts total sales of 16 million NEVs in 2025, up from 12.9 million in 2024. Each vehicle uses 3–5 kilograms of rare earth magnets, boosting magnet demand to an estimated 87,000 tonnes by 2027. Similarly, the wind turbine sector will require 19,620 tonnes of magnets in 2025, compared with 12,880 tonnes in 2020, underscoring the link between clean energy growth and rare earth magnet consumption.

Supply Chain Expansion Beyond China

Leading magnet manufacturers are racing to expand production capacity. In China, Jinli Magnet (JLM) plans to raise its high-performance NdFeB magnet output to 60,000 t/yr by 2027, up from 35,000 t/yr today. Ningbo Yunsheng is expanding its Baotou plant to 15,000 t/yr, with phased commissioning through 2026. Zhongke Sanhuan increased its sintered NdFeB capacity to 25,000 t/yr and bonded magnets to 1,500 t/yr, serving NEV, robotics, and advanced transportation sectors.

Outside China, MP Materials aims to produce 10,000 t/yr of magnets by 2028 with U.S. Department of Defense backing, while Neo Performance Materials will begin 2,000 t/yr of sintered NdFeB magnet output in 2026. Vulcan Elements and E-VAC Magnetics are also advancing U.S. production, with the latter supporting General Motors’ EV lineup under a long-term contract. These moves reflect a broader global effort to localize magnet supply chains and mitigate reliance on China amid rising geopolitical risk.

The Metalnomist Commentary

The sharp expansion in rare earth magnet capacity reflects the industrial urgency to secure critical materials for the energy transition. While China’s dominance will persist, Western and Japanese investments signal a strategic realignment toward supply chain resilience. The balancing act between technological advancement and resource independence will define the next decade of the magnet and rare earth industries.

China blocks stibnite ore shipment disrupts US Antimony supply

China Stibnite

Chinese customs action forced a 50t cargo back to Australia. The China blocks stibnite ore shipment after an 82-day hold in Ningbo-Zhoushan. As a result, US Antimony’s Mexico restart faces fresh feedstock risk. The China blocks stibnite ore shipment halted ore bound for Manzanillo and the Madero smelter.

Supply chain and pricing impact

US Antimony valued the two containers at $715,413, or $14,308/t. Therefore, the China blocks stibnite ore shipment directly removes high-value stibnite from near-term runs. Meanwhile, antimony is vital for flame retardants, defense uses, and lead-acid batteries. Tightness could widen if alternative concentrates lag.

The company operates North America’s only antimony smelters. However, longer hauls and re-booking raise logistics and financing costs. Downstream alloy and chemicals buyers should review safety stocks. Traders may prefer multi-origin tenders to limit single-port risk.

Regulatory and logistics factors

China suspended antimony exports to the US in December. Therefore, transshipment through Chinese ports adds regulatory exposure. Evergreen Shipping routed the cargo through China, triggering the hold. The carrier’s deviation underscores how routing choices shape compliance risk.

Refiners now reassess routing via neutral hubs. In the near term, Mexico feed could rely on direct sailings. Operators should hard-code “no PRC transshipment” clauses. They also should insure for customs detentions and export-control delays.

The Metalnomist Commentary

This episode shows midstream fragility when critical ores transit regulatory chokepoints. Expect tighter contract language, diversified routes, and premiums for assured delivery outside China’s logistics sphere. Buyers should secure multi-origin stibnite supply before peak seasonal demand.

Ronbay Boosts 3Q Battery Cathode Active Material Sales Amid Rising EV Demand

Ronbay

Ningbo Ronbay, a leading Chinese manufacturer of battery cathode active materials (CAM), has reported a significant increase in sales for the third quarter of 2023, driven by surging demand from the electric vehicle (EV) sector. Ronbay’s strong performance was reflected in a 27% increase in ternary CAM sales compared to the same period last year, reaching over 35,000 tons. The company’s market share in the global CAM market now stands at 14.4%, up by four percentage points from the previous quarter, solidifying its position as the market leader since 2022.

Record Sales and Expansion of Ultra-High Nickel CAMs

In the first three quarters of 2023, Ronbay’s sales of ultra-high nickel CAMs surpassed 20,000 tons, highlighting the growing demand for high-energy-density batteries used in EVs and advanced battery technologies. The company's overseas shipments of all ternary CAMs reached nearly 15,000 tons, further underscoring its strong international presence.

Ronbay also saw a significant boost in its sales of battery precursors, which rose by 69% from the previous quarter to nearly 10,000 tons in the third quarter. These precursors are essential for the production of high-performance cathode materials used in lithium-ion batteries.

R&D Investment and Expansion Plans

To support its continued growth, Ronbay has significantly increased its research and development expenditure, up by 41% year-on-year, reaching 312 million yuan ($43.8 million) in the first nine months of 2023. This investment is aimed at ensuring steady shipments of ultra-high nickel CAMs, which are critical for the development of semi-solid state batteries and solid-state batteries. Ronbay has already secured certification for its ultra-high nickel CAMs from several domestic and international customers.

International Expansion and Future Prospects

In line with its growth strategy, Ronbay has been expanding its overseas production capacity. The first phase of its battery CAM project in South Korea is ramping up output, with a planned capacity of 20,000 tons per year. Additionally, the company is moving forward with the construction of the second phase, which will increase capacity to 40,000 tons per year to meet demand not only from South Korea but also from markets in Japan, Europe, and the US. Ronbay is also exploring the feasibility of a 20,000 tons per year plant in Poland and has established subsidiaries in the US to strengthen its global footprint.

By the end of 2023, Ronbay had expanded its total cathode material capacity to 200,000 tons per year, which includes 10,000 tons per year for lithium manganese iron phosphate (LMFP) and 20,000 tons per year in South Korea. This expansion positions Ronbay as a major player in the global battery materials market, particularly in the rapidly growing EV sector.

Firebird Metals Builds First LMFP Battery in China Development Push

Firebird Metals

Australian Firm Partners with Chinese University to Test Lithium Manganese Iron Phosphate Technology

Firebird Metals, an Australian battery materials company, has successfully built a lithium manganese iron phosphate (LMFP) battery in China, marking a significant step in its ongoing development program.

The company is conducting these tests in partnership with Central South University in Hunan province, making it one of the first Australian firms to assemble an LMFP battery abroad.

Firebird has begun testing 100 batches of battery metal formulations, with the goal of converting them into fully functional LMFP batteries. As of March 4, the firm has tested five batches, and several of them have already yielded working battery cells, according to its investor update.

Potential for LMFP Capacity Expansion at China Hub

Depending on the results of its full test campaign, Firebird may expand its Chinese battery hub to reach 1 tonne/day of LMFP capacity. The company aims to leverage China’s supply chain efficiency and academic R&D to accelerate commercial battery-grade material production.

Firebird is not alone in the LMFP race. Livium, a battery recycler, produced LMFP battery cells in 2020 at a Brisbane pilot plant. In China, Ningbo Rombay, a leading domestic manufacturer, operates at a scale of 10,000 tonnes per year, positioning itself as a dominant LMFP supplier.

Meanwhile, manganese sulphate prices, a key input for LMFP, have shown notable volatility. According to SUPERMETALPRICE, battery-grade manganese sulphate (≥32% Mn) ex-works pricing climbed from $660/t in February 2024 to $861/t in June, before retreating to $820/t by late February 2025. Prices remain well below the March 2022 peak of $1,671/t, reflecting ongoing market correction and oversupply dynamics.

Firebird’s pilot results could play a critical role in defining Australia’s foothold in low-cost, thermally stable LMFP battery chemistry, widely viewed as a viable alternative to LFP and NCM chemistries in energy storage and e-mobility applications.

Hubei Boyang launches manganese-based battery CAM plant to scale China’s next-wave cathodes

Hubei Boyang

China’s manganese-based battery CAM build-out gained momentum as Hubei Boyang started its first-phase plant. The project adds manganese-based battery CAM capacity and manganese tetroxide at scale. As a result, manganese-based battery CAM supply will deepen near upstream ore in Hubei.

First-phase start-up and three-stage growth path

Hubei Boyang commissioned a plant with 20,000 t/yr of manganese-based CAM. It also started 30,000 t/yr of manganese tetroxide. The site sits in Changyang, Yichang, central Hubei. However, the plan is larger than this first step. The full project targets 280,000 t/yr across three phases.

Changyang county hosts abundant manganese ore reserves for feedstock. Therefore, the location reduces logistics risk and costs. Hubei Zhongmeng operates five lines totaling 50,000 t/yr of manganese flake. That nearby supply strengthens the project’s raw material security.

China’s LMFP and Mn-rich cathodes expand rapidly

China’s power battery growth is catalyzing manganese-based battery CAM investments. Producers are scaling LMFP and related Mn chemistries. Meanwhile, Hunan Yuneng is building an LMFP line. Shanxanxi Tewashi began a 100,000 t/yr plant in May. Ningbo Ronbay plans LMFP and sodium-ion CAM in Hubei. Baiyin Shidai Ruixiang launched 20,000 t/yr of battery-grade LMFP in Gansu.

Manganese-rich cathodes aim to balance cost, safety, and energy. As a result, they target EVs and storage systems. Hubei Boyang’s start-up signals tighter integration from ore to cathode. It should broaden customer options beyond LFP and ternary NCM.

The Metalnomist Commentary

China’s Mn-based push lowers cathode cost while reducing nickel and cobalt exposure. Watch phase-by-phase execution and LMFP adoption rates. Regional feedstock proximity could anchor margins during price swings.