Asia
Market Chatter: Ulvac to Move Key Furnace Production to Japan
Ulvac (TYO:6728) plans to relocate production of equipment used to make rare-earth magnets from China to Japan, amid tightening export controls, Nikkei reported Friday.The company, which dominates the market for vacuum sintering and melting furnaces, had based all such production in China. Concerns over potential export restrictions have prompted the shift, according to the report.Ulvac will add melting furnace capacity at its Chigasaki plant in Kanagawa this summer, with output of up to 12 units a year. The capacity equates to roughly 24,000 metric tons of magnet production, mainly for neodymium magnets used in electric vehicles and data centers, the report said.Ulvac expects global demand for rare-earth magnets to exceed 400,000 tons by 2030, with its new capacity potentially covering about 15% of that level, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
TYO:6728
