The Chinese rare earth market witnessed continuously climbing prices in H1 of 2017 owing to the government's intensified environmental inspections and crackdown on illegal production. In July and August, prices soared as suppliers were reluctant to sell with a bullish attitude toward the market outlook. However, prices started to decline from September due to downstream consumers' resistance. Currently, most Chinese rare earth separation plants showed intentions of halting production in late December or next January in a bid to prop up prices. Then, can we expect a turnaround in the Chinese rare earth industry in 2018?
In terms of the global market, on the one hand, suppliers outside of China are striving to become more competitive suppliers by entering into long-term supply contracts and providing customized products; on the other hand, consumers, especially some from Japan, turned to source the material from outside China as prices are sensitive to policies in China. Consequently, China is losing its market share. Will China still be the leading supplier or one of the top two or three in the global market in 2018?
The key growth driver of rare earth is demand for rare earth permanent magnet. The key segments driving this demand growth are electrification of vehicles, growth in direct drive wind turbine manufacture, and the continued growth of consumer electronics and automation. Will there be any change in the supply and demand of rare earth permanent magnet in 2018?
In order to provide a platform for participants from both China and overseas to share opinion about rare earth price trend and supply & demand pattern, Asian Metal is going to hold the 10th International Rare Earth Summit in Sanya, Hainan on May 10-11th, 2018. The summit will provide an opportunity for industry elites from around the world to meet face to face and exchange ideas, meet customers, and take part in industry discussions. All industrial elites are welcomed to the summit for joint discussion.
