On 14-15 May, 2026, the 17th Rare Earth Summit, organized by Asian Metal and sponsored by Fujian Golden Dragon Rare-Earth Co., Ltd., was grandly held in Xiamen, Fujian. The summit covered topics including the current status of global rare earth resource development, reflections on high-quality development of China's rare earth resources during the 15th Five-Year Plan period, the current state and outlook of rare earth permanent magnet material industry, rare earth supply in regions outside China, the North American heavy rare earth supply chain, demand analysis and forecasts for rare earth permanent magnets and motors in the European market, the current state of the rapidly quenched NdFeB magnetic powder industry, supply and demand analysis of Praseodymium-Neodymium products with updates on Lynas' production plans, the current status and development trends of hydrogen storage alloy industry, applications of rare earths in catalysis, and supply and demand analysis of rare earth metals and magnetic materials in India. More than 200 delegates from 14 countries—including China, Australia, Malaysia, the United States, Japan, South Korea, Germany, France, the Netherlands, Spain, the United Kingdom, Russia, Slovenia, and India—gathered in Xiamen to exchange ideas and explore cutting-edge opportunities.

The summit started at 9:00 AM on 15 May 2026, Mr. Jiawei Jiang from Asian Metal hosted the meeting. Firstly, Mr. Ruijun Li, Deputy Director of the Institute of Natural Resources Policies and Regulations of Chinese Academy of Natural Resources Economics, delivered a report sharing insights on the current status of global rare earth resource development and reflections on high-quality development of China's rare earth resources during the 15th Five-Year Plan period. Director Li noted that global rare earth resources are highly concentrated, with nearly 95% of reserves in China, the United States, Australia, Brazil, Canada, and Greenland. China holds the largest share at 38.12%. Global rare earth mining output reached 402,000 tons in 2025, with significant growth in the United States and Myanmar. Global consumption of rare earth oxides grew by 6.3% in 2025, with China accounting for 89.2%, a figure expected to reach 90.5% in 2025. Permanent magnet materials account for 29% of global rare earth consumption, ranking first among all sectors. In recent years, the United States has aimed to reduce reliance on critical minerals through legislation, evaluation of critical materials and technologies, financial subsidies, and international cooperation to achieve diversification and supply security. The European Commission seeks to ensure the security of critical raw material supply to support the development of strategic sectors such as green industry, digital industry, aerospace, and defense. Director Li called for China to intensify efforts in key rare earth technology breakthroughs during the 15th Five-Year Plan period, promoting high-end, green, and intelligent development of the industry to enhance global competitiveness.

Next, Mr. Alex Shi, Director of the Magnetic Materials Research Institute of Fujian Golden Dragon Rare-Earth Co., Ltd., presented a report titled "Current Status and Outlook of Rare Earth Permanent Magnet Material Industry." Mr. Shi reviewed the development history and industry landscape of rare earth magnetic materials, introduced application scenarios and supply-demand dynamics, analyzed development trends, and provided an outlook for the industry.

Following that, Mr. Zac Komur, Executive Director of Lindian Resources Ltd., presented a report titled "Current Status of Rare Earth Supply Outside China – Lindian Resources: A New Force in the Rare Earth Sector." Mr. Komur analyzed the development status of rare earth projects outside China, discussed severe bottlenecks facing the rare earth supply chain beyond China, and introduced the Kangankunde rare earth project of Lindian Resources. He stated that the Kangankunde project contains 676,000 tons of total rare earth oxides (TREO), including approximately 133,000 tons of Neodymium-Praseodymium (NdPr). Lindian Resources is committed to becoming a major supplier of rare earths outside China.

After the tea break, Mr. Melvin Hill, Vice President of GE Chaplin Inc., gave an online report analyzing the North American heavy rare earth supply chain. Mr. Melvin Hill reviewed U.S. demand for heavy rare earth products over the past two years. From April 2024 to April 2025, U.S. imports of yttrium oxide, gadolinium oxide, lutetium oxide, and samarium oxide were approximately 670 tons, 190 tons, 60 tons, and 25 tons, respectively. However, from April 2025 to April 2026, imports of these products are expected to be around 80 tons, 70 tons, 25 tons, and 30 tons, respectively. Mr. Melvin Hill also analyzed U.S. government policies in recent years and provided an overview of current rare earth product supply in the United States.

Subsequently, Mr. Ales Leben, Managing Director for Asia Business of Domel d. o. o. (Slovenia), presented a report on demand analysis and forecasts for rare earth permanent magnets and motors in the European market. Mr. Leben stated that China's export volume of rare earth permanent magnets in 2025 was 57,392 tons, a 1.3% decrease from 2024, with exports to Europe reaching approximately 22,500 tons. European permanent magnet imports in 2025 were about 25,000 tons, of which approximately 99% came from China. Given the wide variation in magnet usage in motors—from several kilograms in passenger vehicles to tens or even hundreds of kilograms in commercial and large vehicles—by weight, new demand for rare earth permanent magnets will primarily come from motor applications. He projects that global demand for rare earth permanent magnets will increase 1.69-fold by 2036. Global production of rare earth permanent magnets is expected to exceed 330,000 tons per year by 2036. By 2036, U.S. production capacity for rare earth permanent magnets is expected to increase approximately 5.9-fold, driven significantly by strategic policy support, including hundreds of millions of dollars in funding from the U.S. Department of Defense. European production capacity for rare earth permanent magnets is expected to increase approximately 3.1-fold by 2036, with a key driver being the Critical Raw Materials Act, which proposes that by 2030, local production should meet 40% of Europe's needs.

Next, Mr. Zhijian Wu, General Manager of Chengdu Galaxy Magnet Co. Ltd., elaborated on the current state of the rapidly quenched NdFeB magnetic powder industry. Mr. Wu stated that China's production of rapidly quenched NdFeB magnetic powder in 2025 was approximately 24,000 tons, with actual output of about 15,000 tons. Five years ago, the primary rare earth components of the magnetic powder were Praseodymium-Neodymium with small amounts of Lanthanum-Cerium. Currently, formulations are adjusted based on required magnetic performance, with large quantities of cheaper Lanthanum-Cerium replacing Praseodymium-Neodymium to reduce costs. Mr. Wu noted that given the increasing number of micro-motors needed in industries such as automotive and household appliances, bonded NdFeB magnets will see more applications, leading to increased demand for NdFeB magnetic powder.

The first speaker of the afternoon session was Mr. Wayne Park, Marketing General Manager of Lynas Rare Earths, who presented an online report titled "Supply and Demand Analysis of Praseodymium-Neodymium Products and Update on Lynas Production Plans." Mr. Park stated that global policy dynamics are reshaping the rare earth market. Governments are taking action to establish functional markets and build secure rare earth supply chains, with rare earths remaining an important topic in multilateral trade consultations and agreements. Lynas is helping Malaysia become a key link in the global rare earth supply chain. Magnet manufacturers in Japan (Lynas's largest market) are experiencing business growth, and magnet buyers outside China are seeking direct supply due to supply chain risks, with strong demand for initially separated heavy rare earths (Dysprosium, Terbium, Samarium). He projects that China's global market share of magnets will decline from 95% in 2024 to 90% by 2030. Global demand growth is expected to range from 5% to 8% annually over the next few years, mainly driven by European wind power and new energy vehicle markets. Over the next five years, magnet production outside China and Japan is expected to increase tenfold. He also stated that Lynas Rare Earths has renewed a long-term agreement with Japan Australia Rare Earths (JARE), extending it to 2038, with a floor price of $110/kg for Praseodymium-Neodymium products, and a fixed annual off-take of 5,000 tons of NdPr plus half of Lynas's heavy rare earth oxide production. Lynas's operating license in Malaysia has been renewed for 10 years, effective from March 3, 2026. In fiscal year 2025, Lynas produced 6,375 tons of marketable rare earth oxides, including 3,407 tons of NdPr. Heavy rare earth expansion plans were announced in October 2025, with first samarium expected in the fourth quarter of fiscal year 2026.

Next, Mr. Jinyu Li, R&D Director and Chief Engineer of Xiamen Tungsten Hydrogen Energy Technology Co., Ltd., presented a report on the current status and development trends of the hydrogen storage alloy industry. Mr. Li stated that the most mature commercial application of rare earth hydrogen storage alloys is in the nickel-metal hydride battery sector, primarily using LaNi5-type hydrogen storage alloys (AB5 type) and La-Mg-Ni-based hydrogen storage alloys (A2B7 type). Hydrogen storage alloys are subdivided into conventional, high-capacity, high-power (dynamic), low-temperature, high-temperature, low-self-discharge, and low-cost types to meet the needs of different nickel-metal hydride battery products. Hydrogen energy is a national strategic direction, included in the 15th Five-Year Strategic Plan and the 2035 Long-Range Objectives. It is projected that by 2060, renewable hydrogen production will reach 100 million tons, contributing approximately 15% to carbon dioxide emission reductions. The small battery NiMH market is expected to remain at approximately 4.8 billion RMB. NiMH remains the preferred solution for the T-BOX market, with a projected compound annual growth rate of 7.3% over the next few years, reaching an estimated market size of $138 million USD (approximately 1 billion RMB) by 2031. Guided by national policies, the hydrogen energy industry will achieve rapid industrialization, with significant future market potential.

Subsequently, Mr. Zongbo Shi, Deputy General Manager of Rezel Catalysts Corporation, presented a report titled "Applications of Rare Earths in Catalysis: From Industrialization to Frontier Exploration." Mr. Shi stated that the global rare earth catalyst market was valued at $3.1-5.2 billion USD in 2024, with a compound annual growth rate of approximately 5.5-7.5%. Annual rare earth consumption in 2025 was 21,000 tons, with petroleum cracking accounting for 38%, automotive emissions 29%, and new energy 18%. Rare earth elements (such as Lanthanum La and Cerium Ce) are primarily added as auxiliary agents to platinum (Pt)-based or chromium (Cr)-based catalysts to optimize catalytic performance. Various rare earth alloy catalysts are used in energy conversion applications, providing important references for the design and application of next-generation rare earth alloy catalysts. The latest research directions for rare earth elements in alloy catalysts focus on optimizing and maximizing their application efficiency in electrocatalytic reactions (such as HER, OER, ORR, EOR) and thermocatalytic reactions (such as AHR, NHR, CMR, ASR, SCR).

After the afternoon tea break, Mr. Sanjay Arya, General Manager of DK Metal World Limited, presented a report analyzing the supply and demand of rare earth metals and magnetic materials in India. Mr. Sanjay Arya stated that India has abundant rare earth element reserves, estimated at approximately 6.9 million tons, accounting for 6% of global reserves. In terms of rare earth reserves, India ranks fifth globally, after China, Vietnam, Brazil, and Russia. Despite India's rich rare earth resource base, domestic permanent magnet production remains in the developmental stage. Current domestic demand still relies heavily on imports, the vast majority of which come from China. By import value, the dependence is approximately 84.8%; by import volume, approximately 90.4%. To enhance India's self-reliance in critical materials, the government approved a major plan regarding rare earth permanent magnets on November 26, 2025. This initiative, providing 72.8 billion rupees in funding support and incentives, aims to create a fully integrated local manufacturing ecosystem.

Next, Mr. Weijie Shang, Deputy General Manager of Hunan Oriental Scandium Co., Ltd., delivered a report titled "Current Status and Development Trend Analysis of the Scandium Industry." Mr. Shang revealed that domestic scandium oxide production capacity is concentrated, with potential supply approaching 200 tons. Overseas existing capacity is only about 13 tons, and while exploration projects are resource-rich, they face difficulties in commissioning, with costs far exceeding market prices. Solid oxide fuel cells (SOFCs) represent the largest application area for scandium oxide. Driven by strong electricity demand from AI computing centers, this sector is expected to account for over 75% in 2026, with significant technical advantages and strong growth certainty. SOFC demand is projected at 60-80 tons in 2026. Aerospace, 3D printing, and aluminum-scandium alloys in the 3C sector account for approximately 15% of demand, with significant performance improvements constrained by costs, awaiting breakthroughs in civilian markets. Niche sectors including aluminum-scandium targets, laser crystals, optical coatings, thermal barrier coatings, and catalysts collectively account for about 10% of demand, with limited market size but high added value. The scandium oxide industry currently exhibits a clear pattern of supply exceeding demand, with price pressure becoming the norm. If demand growth fails to meet expectations, leading companies and small-to-medium enterprises will face deep price wars, industry-wide profit margins will be severely compressed, some enterprises will face cash flow risks, and market clearing pressures will intensify sharply.

Finally, Mr. Valdiney Domingos, Founder and CEO of Si&MEx Solutions GmbH, presented a report analyzing the supply and demand of the European rare earth market. Mr. Domingos stated that global production of NdFeB magnetic materials continues to grow strongly, reaching 467,000 tons in 2025 and projected to reach 467,000 tons by 2030. Global NdFeB magnet demand is expected to grow steadily over the next few years, reaching approximately 327,000 tons by 2030. Europe remains highly dependent on imports of NdFeB magnets, although with slow export growth, strategic investments in recycling and manufacturing are gradually reducing Europe's external dependence by 2030. European demand for rare earth magnets is expected to nearly triple by 2030. Imports (primarily from China) will remain dominant but will decline in share, with recycling and new greenfield projects crucial for building a resilient value chain. Strong policy support is accelerating related investments.

At 6:30 PM, the appreciation dinner began. The dinner venue was lively with the clinking of glasses and joyous conversation. Everyone enjoyed drinks and conversation before parting contentedly. Amidst the laughter and cheerful voices, the 17th Rare Earth Summit hosted by Asian Metal came to a successful close! The conference brought together upstream and downstream resources from both domestic and international markets, providing a platform for full exchange among suppliers and demanders. Through this conference, participants exchanged ideas, pooled efforts, made new friends, and explored new business opportunities. In recent years, Asian Metal has successfully hosted the International Rare Earth Summit multiple times, receiving active support and cooperation from industry companies. We hereby express our sincere gratitude! Asian Metal will continue to uphold its dedicated professionalism and strive further, continuing to build an "International Platform, Value Summit." Let us all look forward to next year's "18th International Rare Earth Summit"!