Work started in February – how are things going for everyone else?

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One and a half months have passed since work started in February. In our magnetic materials industry, order volumes have decreased by nearly 10% during this period, which is a significant drop. The main reduction in orders has occurred in the areas of automotive sensors and magnetic pumps. At present, there is a slight decline in orders for motors and in some other industries as well, but this is considered normal. Due to the sharp rise in material prices this year, many planned orders have had to be postponed. By the end of March, the situation regarding praseodymium and neodymium materials improved, and orders for motors have gradually returned to normal levels. As for automotive sensors this year, it’s not clear whether this is due to the development of new energy vehicles, or as a result of the outbreaks of disease in Shenzhen, Shanghai, Jilin, and Liaoning – all of which are likely to have an impact on business activities in various industries.