JL MAG's output of grain boundary penetrating products up by 47.39% YoY in Q1
2023-04-27 18:21:00 [Print]
According to the operation results report released by JL MAG on April 26, in the first quarter of 2023, the company achieved operation revenue of over RMB1.65 billion (USD0.24 billion), up by 9.40% year on year. In Q1 2023, the company's NEV motor magnetic steel product sales were able to be equipped in about 839,000 new energy passenger cars; its output of grain boundary penetrating products recorded 2,719t (including 1,554t of ultrahigh-grade products), up by 47.39% YoY, and accounting for 86.82% of its total sales in the first quarter, up by 19.83 percentage points.
JL MAG plans to build a 40,000t high-performance rare earth permanent magnetic material production capacity by 2025; moreover, it also plans to build a scrap magnetic steel reutilization project in Mexico, which is expected to have a 5,000tpy processing capacity of scrap magnetic steel and a 3,000tpy production capacity of high-end magnetic products.
JL MAG plans to build a 40,000t high-performance rare earth permanent magnetic material production capacity by 2025; moreover, it also plans to build a scrap magnetic steel reutilization project in Mexico, which is expected to have a 5,000tpy processing capacity of scrap magnetic steel and a 3,000tpy production capacity of high-end magnetic products.
Neodymium Oxide 99.5%min EXW China
Unit:RMB/mt
China's rare earth seperation plants' inventory statistics by province by month
Unit: mt
