The unexpectable COVID-19 attacked the global rare earth market at the beginning of 2020. The Chinese rare earth industry, including separation plants, smelters, NdFeB magnet, catalyst and polishing powder factories, reduced or suspended production in the first quarter of 2020. Since the second quarter, Chinese rare earth industry kept recovering and already resumed to （normal）the normal situation in the second half year. However, the competition among rare earth metal producers and NdFeB magnet manufacturers escalated due to the continuously increasing production capacities.
The overseas rare earth industry also endured ordeal in 2020. Under the sluggish global economy caused by COVID-19, the development of international rare earth projects slowed down. Overseas downstream industries, such as NdFeB magnet, catalyst, polishing powder, luminescent materials, alloy and ceramics markets, faced severe tests. Terminal industries, for instance, automobile market, suffered challenges.
What lies ahead the global rare earth industry in 2021? What challenges will international rare earth miners face? What opportunities and difficulties will rare earth downstream industries confront with? Let's reunite in the 12th Rare Earth Summit in Hangzhou, Zhejiang on 27-28 May 2021. The summit welcomes industry elites from all over the world to exchange ideas, to share inspiration and to probe opportunities.
