Summary: China Northern Rare Earth expects profit attributable to shareholders for the first nine months of 2026 to rise by about 135% to 139% year on year. The forecast links stronger performance to high rare earth product prices, higher sales across several product groups and continued expansion of its integrated rare earth value chain.
Profit forecast points to a stronger first nine months
According to a report published by Shanghai Metals Market on October 12, China Northern Rare Earth forecast net profit attributable to owners of the parent company of RMB 3.62 billion to RMB 3.68 billion for January through September 2026. That would represent an increase of approximately 134.95% to 138.84% from the same period a year earlier.
The company also estimated first-nine-month net profit excluding non-recurring items at RMB 3.63 billion to RMB 3.69 billion, which would be about 166.64% to 171.04% higher year on year. These figures are forecasts rather than audited full-year results.
Magnetic materials are part of the growth story
The company attributed the expected improvement to factors including high prices for major rare earth products, cost and efficiency measures, production coordination and stronger sales. It said output of rare earth smelting and separation products, rare earth metals and magnetic materials reached new highs, while sales of rare earth metals, magnetic materials and polishing materials all increased to varying degrees.
China Northern Rare Earth also described ongoing industry-chain projects, including a joint venture intended to build a cerium-containing NdFeB magnetic-material project. The project remains at the business-registration stage, so it should not be treated as operating capacity.
What magnet buyers should watch
SMM’s market data showed that Pr-Nd oxide prices had risen substantially during the first nine months of the year. On October 12, low-priced oxide cargoes were tighter and supplier offers strengthened, but downstream magnetic-material orders still developed slowly. For B2B buyers, the combination of strong upstream earnings and cautious downstream purchasing supports close monitoring of quotation validity, alloy costs and confirmed delivery schedules.