新祺実業有限公司 New Favor Industry Co., Ltd. List of News Articles

The price of Pr-Nd alloy rose to between 500,000 and 640,000 RMB per ton in August. These are important materials for neodymium magnets. This year, the price has nearly doubled. China produces 80 percent of the world's total supply of these materials. The Chinese government is implementing strict crackdowns on illegal miners and environmental protection policies. Neodymium magnets are needed for renewable energy, electric vehicles, and wind power motors. It is expected that demand for rare earths will exceed supply in the latter half of this year. (Bloomberg - 2017/9/7 "Rare Earth Metals Electrified by China's Illegal Mining Clean-Up")

According to the Nikkei Asian Review, the crackdown on illegal mining and the enforcement of environmental regulations have recently led to an increase in the spot prices of rare earths. As of August 9, the spot price of rare earths based on the Shanghai Metal Market reached 570,000 yuan (RMB). One of the sources interviewed pointed out that the surge in rare earth prices is driven by sellers holding back supply in anticipation of higher prices in the future. ("Rare earth prices rise as China tightens spigot on supply," 2017)

The FBC Hanoi 2017 Manufacturing Business Meeting has successfully concluded, thanks to your support. We would like to express our sincere gratitude to the many customers from Japan, Vietnam, Thailand, and other countries who attended.

Thank you very much for your continued support. New Favor Industry Co., Ltd. will be exhibiting at the "FBC Hanoi 2017 Manufacturing Business Meeting" to be held at the National Exhibition Construction Center in Hanoi from February 23 (Thursday) to February 24 (Friday). We would like to inform you about this event. Exhibition items: Permanent magnets (various types of magnets such as neodymium magnets, ferrite magnets, neodymium bonded magnets, samarium cobalt magnets, alnico magnets, rubber magnets, and their application products). We sincerely look forward to your visit.