Latest Update in the SMM Rare Earth Magnets Market

This week, the total rebar inventory was 4.1197 million mt, down 48,300 mt WoW, a decrease of 1.16% MoM, and a YoY decline of 17.63%.

On December 5, stainless steel futures prices recently plummeted to a four-year low, causing panic in the spot market, with frequent occurrences of price cuts to secure sales.

On December 4, Chinese new energy vehicle maker Leapmotor announced that cumulative sales of its micro electric vehicle model, the T03, have surpassed 200,000 units.

On December 4, Baidu officially launched the Apollo Open Platform 10.0, a significant upgrade designed around its Autonomous Driving Foundation Model (ADFM).

On December 4, FAW Logistics and Huawei Technologies signed a comprehensive cooperation agreement in Shenzhen, focusing on smart logistics, digital transformation, and talent development.

In November 2024, national nickel sulphate production reached 30,800 mt in metal content, or 140,000 mt in physical content, up 7% MoM but down 13% YoY.

In November, SMM China's copper cathode production increased by 9,400 mt MoM, a rise of 0.94%, up 4.61% YoY, and exceeded expectations by 24,200 mt.

On December 5, SMM battery-grade nickel sulphate index price was 26,249 yuan/mt.