Asian Metal visits Ningbo Jinji, Ningbo Tongchuang, Ningbo Fonne and Ningbo Ketian

On 7 January 2021, Mr. Carson Wang, the Sales Director, and Ms. Vivian Pang, the Consultant & Senior Product Manager of Asian Metal visited Ningbo Jinji Strong Magnetic Material Co., Ningbo Tongchuang Strong Magnet Material Co., Ningbo Fonne Group Co. and Ningbo Ketian Magnet Co. and were warmly welcomed by these companies.

On the morning of 7 January 2021, Carson Wang and Vivian Pang visited Ningbo Jinji Strong Magnetic Material Co., and exchanged ideas with Mr. Yuanhu Hu, the General Manager and Mr. Yinhu Xu, the Purchase Manager of the company regarding Chinese NdFeB magnet demand trend and the supply & demand pattern of rare earth raw materials. Mr. Hu claimed that Chinese NdFeB magnet prices increased rather slowly recently even through Chinese rare earth raw material prices went up sharply as majority of NdFeB magnet end users refused to accept price increase and the competition among NdFeB magnet producers remained furious. Ningbo Jinji Strong Magnetic Material Co. has subscribed Asian Metal's information for 10 years and the company always refers to Asian Metal's prices to sign sales contracts with clients.

Then, Carson Wang and Vivian Pang visited Ningbo Jinji Strong Magnetic Material Co. and shared opinions with Mr. Yufeng Wang, the Deputy General Manager of the company on Chinese NdFeB magnet industry current situation and rare earth raw material price trends. Mr. Wang disclosed that the company's NdFeB magnet output in 2020 increased YOY. They would persistently devote themselves to provide excellent service to clients from automobile, industrial motor, energy saving elevator, wind power, home appliances and electroacoustic industries. Mr. Wang highly praised Asian Metal's timely and accurate information and said the company already took Asian Metal's rare earth price information to sign contracts for ten years.

In the afternoon, Carson Wang and Vivian Pang visited Ningbo Tongchuang Strong Magnet Material Co. and held a deep communication with Mr. Ning Zou, the President of the group regarding Chinese rare earth supply and demand pattern and demand outlook of Chinese NdFeB magnet industry. Mr. Zou held an optimistic attitude towards demand of Chinese PrNd mischmetal, ferrodysprosium and terbium metal and believed Chinese rare earth industry already entered a golden period of development. Mr. Zou noted that the group focuses on supply higher quality service for NdFeB magnet industry. They offer PrNd mischmetal 99.55%min to high performance NdFeB magnet manufacturer. They are also a very important ferrodysprosium 80% supplier. Mr. Zou spoke highly of Asian Metal's objective and neutral information service and said their group would participate in Asian Metal's 12th Rare Earth Summit in Hangzhou, Zhejiang on 27-28 May 2021.

Whereafter, Carson Wang and Vivian Pang visited Ningbo Ketian Magnet Co. and met Mr. Jianhao Ni, the Purchase Director and Ms. Michelle Yu., the Deputy General Manager of the company. The two sides held a pleasant discussion regarding status quo of Chinese NdFeB magnet and rare earth raw material price trends. Mr. Ni estimated promising Chinese NdFeB magnet prospect. He also saw intensifying competition among Chinese NdFeB magnet suppliers as a result of the continuously climbing production capacity. Mr. Ni highly recognized Asian Metal's authoritative and accurate information and would attend Asian Metal's 12th Rare Earth Summit, which would be held on 27-28 May 2021 in Hangzhou, Zhejiang