[Live Broadcast of Minor Metal Industry Conference: Where Will Global Economy and Trade Head? Long-term Impact of "Dual-use Items" Outlook for Minor Metals, Precious Metals, and PV Markets] ► Intertwined bullish and bearish factors in the Sino-US game, where will global economy and trade head? ► Strategic significance and long-term impact of "Dual-use Items" ► Current situation of minor metal enterprises - the chill of trade war policies and the dawn of prices ► Review of gold and silver market in 2025 and future outlook ► Summary of minor metal market in 2025 and future forecast ► Summary of PV market in 2025 and future forecast

[Live Broadcast of Rare Earth Forum | Outlook for Rare Earth Market, Comprehensive Analysis of Industrial Opportunities in Wind Power, Humanoid Robots, etc., Latest Technology Sharing] ►Analysis of the Situation in the Rare Earth Industry ►In-situ Short-process Regeneration Technology and Application of Sintered NdFeB Magnetic Sludge ►Recent Developments in the Overseas Rare Earth Industry ►Research Progress on Hot-pressed and Hot-deformed Rare Earth Permanent Magnet Materials ►Interpretation of China's Rare Earth Industry Data and Outlook for Market Development Trends, 2024-2025 ►Outlook for the Latest Technology and Application Market of Cerium-containing Permanent Magnets ►Outlook and Technical Discussion on the EVTOL Propeller Motor Industry ►Industry Trends and Industry Chain Analysis of Humanoid Robots ►Rare Earths & Wind Power: Contributing to Carbon Neutrality

[Rare Earth Forum Live Stream | Outlook for Rare Earth Market, Development Opportunities in Wind Power, Humanoid Robots, and Other Industries, Latest Technology Sharing] ►Analysis of the Current Situation in the Rare Earth Industry ►In-situ Short-process Regeneration Technology and Application of Sintered NdFeB Magnetic Sludge ►Recent Developments in the Overseas Rare Earth Industry ►Research Progress in Hot-pressed and Hot-deformed Rare Earth Permanent Magnet Materials ►Interpretation of China's Rare Earth Industry Data and Market Outlook for 2024-2025 ►Outlook for the Latest Technology and Application Market of Cerium-containing Permanent Magnets ►Outlook and Technical Discussion on the EVTOL Propeller Motor Industry ►Trends and Industry Chain Analysis of the Humanoid Robot Industry ►Rare Earths & Wind Power: Contributing to Carbon Neutrality

[At least six rare earth magnetic material enterprises have been granted export licenses! Industry insiders: It is expected that the increase in rare earth mining quotas this year will be approximately 3.7%] ①As of May 18, Zhongke Sanhuan, Ningbo Yunsheng, Zhenghai Magnetic Material, Tianhe Magnetic Material, Insteel, and Earth-Panda had obtained rare earth export licenses; ②Before the introduction of rare earth export control measures, export orders could confirm revenue within a relatively short period, but now this cycle will be prolonged; ③SMM forecasts that the combined rare earth mining quotas for the two batches in 2025 will reach 280,000 mt, up approximately 3.7% YoY. (Cailian Press)

It has been 45 days since export control measures were implemented on seven categories of medium-heavy rare earth-related items, including samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium. A reporter from Cailian Press learned from the industry that at least six enterprises have already obtained the export licenses for dual-use rare earth substances (hereinafter referred to as "rare earth export licenses") issued by the Ministry of Commerce. Additionally, the approval process for rare earth export licenses of several publicly listed firms is continuously progressing. As of May 18, enterprises that have obtained rare earth export licenses include at least six rare earth magnetic material enterprises, such as Zhongke Sanhuan (000970.SZ), Ningbo Yunsheng (600366.SH), Zhenghai Magnetic Material (300224.SZ), Tianhe Magnetic Material (603072.SH), Instar (301622.S), and Earth Panda (688077.SH). In addition, the rare earth export licenses of companies such as China Northern Rare Earth (600111.SH), Guangsheng Nonferrous Metals (600259.SH), and Yinluo Hua (000795.SZ) are currently under application. Due to restrictions imposed by policies, market conditions, production and transportation factors, the supply of rare earths on the supply side may experience a certain degree of reduction in the short term. However, at the same time, downstream demand has entered the off-season. The industry expects that rare earth prices will not experience significant fluctuations throughout the year. At least six rare earth magnetic material enterprises have obtained individual licenses In April this year, the Ministry of Commerce and the General Administration of Customs jointly implemented export controls on seven categories of medium-heavy rare earth-related items, including samarium, gadolinium, terbium, dysprosium, etc., covering various forms such as metals, alloys, and permanent magnet materials. These seven categories of medium-heavy rare earth-related items have also become the first dual-use substances to be explicitly included in export controls. "As the dominant player in the global rare earth supply chain, China controls approximately 85% of the global smelting capacity. These control measures have directly led to an expansion of the supply gap for medium-heavy rare earths in overseas markets, with significant impacts particularly on key varieties such as dysprosium and terbium," Yang Jiawen, a rare earth analyst at Shanghai Metals Market (SMM), told a reporter from Cailian Press. "According to our understanding, as of late April, the prices of dysprosium and terbium in Europe had already doubled or tripled." Industry insiders told a reporter from Cailian Press that under the current circumstances, all export orders for products containing the aforementioned seven categories of medium-heavy rare earth-related items must be reported to the Ministry of Commerce and can only be exported after approval. According to the "Regulations on the Export Control of Dual-Use Items," the current review period for export license applications for dual-use rare earth items is generally 45-60 working days. "If unexpected situations arise, the period may be longer," a relevant person from Tianhe Magnetic Material told a reporter from Cailian Press. "The first batch of goods that our company has obtained approval for is to be delivered to Volkswagen."Currently, a separate application is required for each "formula." If the content of rare earth elements in the product differs, a new application must be submitted. If there are additional new orders subsequently, they will continue to be queued for application submission," said a representative from Insteel to a Caixin reporter. "According to the announcement on export controls for seven categories of medium-heavy rare earths issued by the Ministry of Commerce and the General Administration of Customs on April 4, our company does have some products containing dysprosium and terbium that fall under the control scope. We have applied for dual-use export licenses as required. The licenses are managed on a one-batch-one-license basis, and secondary use is prohibited. Currently, the company has gradually obtained some licenses, and the relevant processes are progressing smoothly," said a representative from Insteel to a Caixin reporter. A representative from Zhongke Sanhuan also stated to a Caixin reporter that the company submitted applications as soon as the export control measures were introduced. Currently, a small number of orders have been approved, and the export licenses for more orders are still under review. "Applications are submitted order by order, and then approved order by order. If the materials are incomplete, they will be rejected, and the submission process will continue, which will extend the entire application cycle," the representative said. It is worth noting that several publicly listed firms in the rare earth permanent magnet sector told Caixin reporters that due to the approval cycle for rare earth export licenses, the companies' performance in the first half of this year may be affected to a certain extent. "Before the introduction of rare earth export control measures, export orders could confirm revenue within a relatively short period. Now, this cycle will be prolonged, which may affect the performance in the first half of the year," they said. A representative from Ningbo Yunsheng stated that currently, only products containing items related to the aforementioned seven categories of medium-heavy rare earths require review. Products from the company that do not contain the aforementioned seven elements are being delivered normally. It is projected that the increase in rare earth mining quotas this year will be around 3.7%. In addition to the implementation of export controls on seven categories of medium-heavy rare earth-related items, this year's domestic total control indicators for rare earth mining are also capturing the attention of the global market. As of now, the first batch of total control indicators for rare earth mining this year has not yet been issued. In contrast, the first batch of total control indicators for rare earth mining and smelting and separation in 2024 was issued on February 7 last year. This year's first batch of rare earth indicators is thus "three months late." The industry believes that the delay in the issuance of this year's first batch of total control indicators for rare earth mining may be related to factors such as the current complex international situation, weak downstream demand, and the inclusion of imported ore in the scope of indicator management. During a recent live broadcast on SMM's rare earth market trends, Yang Jiawen stated, "Based on an analysis of the current market situation, SMM expects that the combined total of the two batches of rare earth mining quotas in 2025 will reach 280,000 mt, with a year-on-year increase of approximately 3.7%."Among them, the output of rock-type rare earths was 261,000 mt, representing a YoY increase of approximately 4%; the output of ion-adsorption type rare earths was 19,000 mt, remaining flat YoY." In Yang Jiawen's view, since the beginning of this year, the supply of rare earth raw materials has remained tight. Meanwhile, the rise of industries such as humanoid robots and the low-altitude economy has brought new demand to the rare earth sector. This year, the global supply-demand gap for Pr-Nd oxide is expected to be 3,500 mt. The improvement in the supply-demand relationship will further support the rebound in rare earth prices. With the regulation of a series of rare earth industry policies, it is expected that the price fluctuation range of Pr-Nd alloy will be controlled within 100,000 yuan/mt, which will help ensure the stability of the profit margin of Pr-Nd alloy. Supply side, the ion-adsorption ore in Myanmar has resumed production, but it is currently the rainy season, affecting the transportation of Myanmar ore. Suppliers at the ore end have shown a significant increase in reluctance to sell. At the same time, downstream NdFeB enterprises have entered the off-season for taking orders, and metal plants in some regions have begun to shut down furnaces and cut production. It is expected that there will be no significant increase in short-term end-use demand in the near future. Huang Ping, the general manager of Shenghe Resources, stated at the 2024 Annual Performance Briefing held recently that despite recent concerns about overall consumer demand triggered by factors such as tariff hikes, which have led to a slight correction in the prices of major rare earth products, the decline has been limited. With the gradual clarification of policies, the market outlook is expected to improve. The company's capacity utilisation rate for rare earth smelting and separation, as well as metal processing, remains high.

[Live Broadcast of the Silver Conference: Economic Situation Analysis, Precious Metal Price Interpretation, Prospects for PV Applications, and Sharing of Cutting-Edge Technologies in the Industry] ► Basic Analysis of the Current Economic Situation ► Analysis of China's Copper, Lead, and Zinc Resource Security Capabilities ► Trend Analysis of Silver and Gold Prices ► Current Status and Prospects of Silver Applications in the PV Industry ► Exploring Cutting-Edge Solutions for Innovative PV Silver Recovery Technologies ► Exploring the Innovation-Driven Advancements in Cutting-Edge Technologies and Intelligent Equipment for Precious Metal Recovery and Refining ► Roundtable Discussion: Current Opportunities and Challenges for Silver ► Current Status and Development Trends of China's Silver Nitrate Industry Technology Market ► Global Demand and Trend Prospects for PV Silver Paste ► Research on the Development and Applications of Silver-Based Micro-Nano Conductive Materials ► Current Status and Future Trends of the Silver Market in 2025