Rio Tinto's Second Quarter Sales Hit a Four-Year High

Mysteel Network News: Rio Tinto, an Australian iron ore producer, released its production and sales report for the second quarter on July 16, 2024. According to the report, the total iron ore sales volume of Rio Tinto's Australian and Canadian mining areas in the second quarter reached a high for the same period since 2021. However, the overall production in the second quarter showed a trend of year-on-year decline and slight quarter-on-quarter increase. This article will analyze the reasons for the divergence of Rio Tinto's production and sales in the second quarter and predict the marginal increase in the second half of the year from Rio Tinto's new round of iron ore production capacity growth cycle.

Impacted by Train Derailment and Declining Ore Quality, Pilbara Region's Iron Ore Production Decreased Year-on-Year

As the main production area of Rio Tinto's iron ore, the Pilbara region in Australia achieved a production volume of 79.481 million tons in the second quarter, a year-on-year decrease of 2.18%, and a quarter-on-quarter increase of 1.98% (Figure 1). The increase in production quarter-on-quarter was expected as the traditional rainy season in the first quarter has ended. However, the production showed a significant decline compared to the same period in 2023, mainly due to the following two factors: First, after midnight on May 13th local time, a railway accident occurred about 80 kilometers away from Karratha, where an autonomous train loaded with iron ore collided with a group of stationary freight cars. Although the accident did not cause any casualties, it resulted in 22 freight cars and 3 locomotives being hit, and the railway transportation was suspended for about 6 days, causing the mine yard to be overly saturated, which in turn affected mine production. Second, despite the Gudai-Darri iron ore replacement project in the Pilbara region of Rio Tinto reaching an annual production capacity of 43 million tons in the second quarter of 2023, and then on October 18, 2023, it was announced that an investment of $70 million would be made to increase the mine's annual production capacity to 50 million tons, the accelerated decline in the quality of the ore from the older production capacities of the Channar and Eastern Range mines has limited the overall increase in production to some extent.

Looking at the Sales Side, the Dispatch Volume of Pilbara Increased Significantly

The dispatch volume of Pilbara in the second quarter reached 80.309 million tons, a year-on-year increase of 1.51%, and a quarter-on-quarter growth of 2.92% (Figure 2). This significant increase is mainly due to the fact that some ships originally planned to be dispatched at the end of the first quarter were postponed to the beginning of the second quarter due to weather reasons, effectively supplementing the overall dispatch volume. At the same time, about 80% of Rio Tinto's iron ore products in the Pilbara region are directed to the Chinese market. With the improvement of demand in the traditional peak season in China in the second quarter, the enthusiasm of steel mills for production has significantly increased, which has also promoted the growth of Rio Tinto's sales in the region. In addition, Rio Tinto continued to expand its mixed ore business in China in the second quarter, and the sales volume of iron ore at the port also showed a significant increase. The total port sales volume in the second quarter was 7.5 million tons (5.7 million tons in the same period of 2023), a year-on-year increase of 31.57%, and a quarter-on-quarter increase of 15.38% (Figure 3).

Regular Maintenance Leads to a Quarter-on-Quarter Decline in Canadian Mining Area's Iron Ore Production and Sales

As the main production area for Rio Tinto's concentrate and pellet, the Canadian region achieved a production volume of 3.721 million tons in the second quarter, a year-on-year increase of 5.86%, but a quarter-on-quarter decrease of 16.38% (Figure 4). The year-on-year increase was mainly due to the exclusion of the impact of the fire the previous year, but the large quarter-on-quarter reduction was mainly due to the annual maintenance of the mine in June, which led to the suspension of the mining area. The sharp decline in production also led to a year-on-year decrease of 6.75% in sales and a quarter-on-quarter decrease of 8.69% (Figure 5).

Latest Progress in Rio Tinto's Iron Ore Expansion

Through the analysis of Rio Tinto's capital expenditure (Figure 6), it can be seen that from 2015 to 2023, its capital expenditure has been at a relatively low level, and the expenditure projects have also been mainly concentrated on capacity replacement (such as Gudai-Darri) and the improvement of production efficiency. Although the latest quarterly report shows that the investment for the railway and port infrastructure of the Simandou iron ore project has been raised, and all preparatory work will be completed in the week of July 15, the first production of the project is expected to be realized at the end of 2025. It is worth noting that there are no other large-scale project production plans in the Pilbara region in 2024 (Table 2), which means that the new iron ore production in the second half of the year will be very limited.

According to Rio Tinto's quarterly report, the shipping target for 2024 is still set between 323 million and 338 million tons. Calculated by the median of 330 million tons, the current shipping target completion has reached 48%, which is at a mid-high level in the past four years. This performance shows that Rio Tinto is steadily advancing the expansion of the territory while maintaining good market competitiveness. It is expected that in 2024, Rio Tinto's production will remain relatively stable compared to 2023, laying a solid foundation for the company's subsequent medium and long-term development.

End of Article

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Americ Energy (CHINA) Co., Ltd. Introduction

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

• Website: www.metal-ae.com
• Email: ae@americenergy.com
• Phone: 13521210668
• whatsapp: 13521210668
• Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China

 

 

Chromium Iron Market Overview

First Quarter Review:

During the first quarter, large steel tender prices were stable, with the main market price around 8,600 yuan per 50 basic tons. Tsingshan announced a significant increase in April's chromium iron steel tender price, up by 500 yuan per 50 basic tons, exceeding market expectations and boosting the confidence of the entire industry chain. Retail prices followed suit with an increase.

📈 From April to May, chromium iron prices experienced a slight correction of 200 yuan per 50 basic tons. As the market sentiment for Tsingshan's long-term contract price increase weakened, and the stainless steel market did not show significant improvement, the retail price of chromium iron began to decline after struggling to rise.

📉 From May to June, chromium iron prices rose again due to the slow recovery of the stainless steel market. Tsingshan's flat tender for June was higher than the market's earlier estimates, temporarily halting the downward trend in retail prices. Although the stainless steel industry entered a slow season in June and faced a short-term downturn, the upstream chromium ore price did not adjust, which strongly supported the high cost of chromium iron. On the other hand, the decline in nickel iron prices temporarily eased the cost pressure on steel mills, limiting their pressure on chromium iron prices, thus keeping the short-term chromium iron prices firm.

Supply and Demand Situation:

In 2024, the downstream stainless steel industry maintained high production, which provided certain support for the demand of chromium iron. Coupled with high steel tender and retail prices for chromium iron, factories maintained a certain profit margin, keeping the production rate at a high level. With the commissioning of several new projects in the north and the resumption of production in the south, China's high carbon chromium iron output from January to June 2024 was 4.3423 million tons, a sequential increase of 10.47%, and a year-on-year increase of 28.68%.

📊 The domestic medium, low, and micro-chromium iron capacity base is large, and the downstream demand has kept the operation rate at a high level throughout the first half of the year. China's medium, low, and micro-carbon chromium iron output from January to June 2024 was 354,900 tons, a sequential increase of 8.7%, and a year-on-year increase of 26.75%. With the commissioning of Tsingshan's Indonesian chromium iron projects, Indonesia's chromium iron capacity showed a significant increase. Tsingshan Group's Indonesian chromium iron output from January to June 2024 was 340,000 tons, a sequential increase of 65.05%, and a year-on-year increase of 136.11%.

Second Half of 2024 Market Trend:

The market trend for the second half of 2024 is expected to be weak and stable. Stainless steel consumption did not meet expectations, and although production remains high, there is a slight surplus of domestic chromium iron supply. Steel mills are keen to lower prices, and the cost of chromium ore continues to rise, pushing factory profits into losses. Some planned projects have been postponed, and some factories are facing production cuts due to losses. However, the scale of previously invested projects is large and continues to release increments, and it is expected that the surplus of chromium iron in the second half of 2024 will still be in excess, but the situation is expected to improve.

Americ Energy (CHINA) Co., Ltd. Introduction:

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

• Website: https://www.metal-ae.com/www.metal-ae.com
• Email: ae@americenergy.com
• Phone: 13521210668
• whatsapp: 13521210668
• Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China

 

 

🏭 Two Major Million-Ton Projects Advance and Produce, Providing Over 2,000 Jobs! 🏭

Since the beginning of this year, the Yunnan Xinping Industrial Park (hereinafter referred to as "the Park") has firmly established a clear direction of "focusing on industry, mainly on industry, and firmly on manufacturing". It insists on planning the development of the park and the economic development of Xinping County as a whole, promoting work as a whole, and allocating elements as a whole. Relying on "main chain" enterprises such as Yunnan Yuxi Xianfu Steel (Group) Co., Ltd. (hereinafter referred to as "Xianfu Steel"), the park has vigorously promoted the construction of upstream and downstream extension projects of the steel industry, promoting the extension, supplementation, and strengthening of the steel industry chain, and making every effort to promote economic development.

🔨 Annual Production of 1 Million Tons 🔨

Coking Project is Advancing in an orderly Manner

At the construction site of the Xianfu Steel's Annual Production of 1 Million Tons Coking Project in the Yangwu area of the Green Steel City area of the park, the scene is bustling with activity. The rammer releases the tamper, smashing the foundation and spreading shock waves; the excavator swings its long arm, excavating earth and loading it onto vehicles; the dump trucks shuttle back and forth, transporting earth to fill high and low...

"The project has completed slope support and is currently leveling the land. In terms of procedures, energy assessment and other work has been completed, and environmental assessment and other procedures are being handled. It is expected to officially start work within a month after the completion of the procedures," said Li Feng, Assistant to the General Manager and Manager of the Technical Transformation Department of Xianfu Steel. The project is an upstream supporting project of Xianfu Steel, with an estimated investment of 2.199 billion yuan, covering a total area of 1,200 acres. After completion, it is expected to provide 630 job positions, achieving an annual operating income of 3 billion yuan and a profit and tax of 100 million yuan.

"After the completion of the project, it will achieve an annual production of 1 million tons of dry coke, meeting nearly 70% of Xianfu Steel's annual production fuel demand, greatly reducing the cost of fuel purchase and achieving cost reduction and efficiency improvement," said Li Feng. "In addition, it can also ensure the supply of high-quality and stable fuel for blast furnaces, prevent fuel from being too mixed and causing 'cold' in blast furnaces, and further improve the comprehensive risk resistance of the enterprise."

Apart from dry coke, the project is expected to produce 463 million cubic meters of coke oven gas, 54,484 tons of coke tar, 12,667 tons of crude benzene, and 12,259 tons of ammonium sulfate annually after completion. "Some of these by-products can be used for combustion power generation, and some can be used for processing urea, etc., which can further improve the enterprise's self-generated electricity ratio and achieve comprehensive energy utilization," said Li Feng.

💹 Annual Production of 2.6 Million Tons 💹

Trial Production of the First Phase of Welded Steel Pipe Project

A 20-minute drive from the construction site of the annual production of 1 million tons of coking project, you will arrive at the construction site of Yunnan Zhengda Steel Pipe Co., Ltd. (hereinafter referred to as "Zhengda Company")'s annual production of 2.6 million tons of welded steel pipe project, also located in the Yangwu area. You can see the factory buildings, office buildings, staff dormitories, canteens, and other buildings rising from the ground, with towering cranes standing tall. Li Yanzong, General Manager of Zhengda Company, introduced that the first phase of the project, including 5 high-frequency welded pipes, 3 hot-dip galvanized round pipes, 2 hot-dip galvanized square pipes, and 5 square pipe production lines, has been completed and put into trial production. It currently employs more than 500 people, and the annual production capacity is expected to reach 1.73 million tons after reaching production.

It is understood that the project is divided into two phases, with a total investment of 1.2 billion yuan. After the completion and production of the two phases, it is expected to produce 2.6 million tons of various types of welded steel pipes annually, achieve an annual output value of about 15 billion yuan, contribute about 300 million yuan in taxes, and provide about 1,500 job positions.

"The nearby steel enterprises are concentrated, and there are abundant steel resources, which can fully meet the raw material needs of the project's production," said Li Yanzong when talking about the original intention of building the factory here. It is understood that the project was signed on October 1, 2023, and it took only 37 days from the investigation and negotiation to the formal signing, setting a new speed for investment attraction in Xinping.

Americ Energy (CHINA) Co., Ltd. stands as a prominent manufacturer and distributor of a comprehensive range of stainless steel products, designed to cater to the diverse needs of various industries. Their offerings encompass stainless steel tubes, plates, strips, and square tubes, all manufactured to uphold the highest quality benchmarks.

Contact Information:

• Website: https://www.metal-ae.com/www.metal-ae.com
• Email: ae@americenergy.com
• Phone: 13521210668
• whatsapp: 13521210668
• Address: No.298 Fengwei Road, Xishan Development Zone, Wuxi City, Jiangsu Province, China

 

Shipping neodymium magnets via air requires special considerations due to their strong magnetic fields. As a neodymium magnet manufacturer, we understand that these magnets, being some of the most powerful permanent magnets, are subject to strict regulations to ensure safe and compliant transportation. Here is a comprehensive guide to shipping neodymium magnets by air:

 

Classification of Neodymium Magnets and The Strength

Neodymium magnets are considered hazardous materials by both the International Air Transport Association (IATA) and the Department of Transportation (DOT) if they exceed certain magnetic field thresholds.

Small Magnets: Smaller neodymium magnets, such as those used in consumer products, may not be subject to dangerous goods regulations, but it is crucial to check their field strength.

High strength neodymium magnets: Neodymium magnets with a magnetic field strength that exceeds 0.005 Gauss at a distance of 2.1 meters from the package must be treated as Class 9 (Miscellaneous Dangerous Goods) for air transport under IATA and DOT regulations.

 

Accurately measuring magnetic field strength

Accurately measuring magnetic field strength is crucial to ensure your magnetic products meet air shipment requirements. To ensure compliance, we suggest using a gaussmeter and adhering to the following procedure:

Select a gaussmeter with a resolution of 0.1 mG or higher for accurate readings. Move the probe around the package to identify the point of maximum magnetic field strength. Measurements should be taken at a distance of 7 feet (approximately 2.1 meters) from the container's walls. If the magnetic field strength exceeds the permitted limit, additional shielding or other mitigation methods will be necessary to meet air transport standards.


By following this measurement process, you can verify that the magnetic product's field strength is within the allowed limits, preventing potential shipment issues caused by exceeding the limits.

 

Packaging Requirements

Proper packaging is essential for safely shipping neodymium magnets. Here are the key considerations:

Shielding the Magnetic Field: The package must be designed to shield the magnetic field to prevent interference with aircraft systems and nearby devices. Special magnetic shielding materials may be required, like iron or steel, to create a magnetic shield.

Stabilizing the Magnet: Magnets should be secured inside the packaging to prevent movement, which could cause magnetization or damage to the magnet itself.

Padding and Protection: The packaging should include padding to protect the magnet from physical shock and avoid any movement inside the box.

 

Shipping Restrictions and Airline Requirements

Airline Restrictions: Different airlines may impose varying restrictions for shipping neodymium magnets. It’s important to confirm with the airline or freight forwarder about their specific requirements.

Packaging Compliance: Ensure the packaging complies with the airline’s regulations regarding the maximum permissible magnetic field strength, and that all necessary labels and documentation are in place.

 

Safety Considerations

Electronic Equipment: Ensure that magnets are kept away from sensitive electronics, including devices like mobile phones, laptops, medical equipment, and navigation systems, both during packaging and transport.

Training: Staff handling the magnets must be trained in the proper handling of hazardous materials to ensure compliance with shipping regulations.

 

By following these guidelines and ensuring compliance with the necessary regulations, you can safely and efficiently ship neodymium magnets by air. Shipping magnets by air presents its own set of challenges, Zoyn, with over 25 years of experience in custom neodymium magnets, can assist in selecting the right packaging materials to ensure both safety and compliance during air transport. Our general approach is to transport all magnetized products via ground services. However, when air transport is required, we can prepare the magnets with adequate shielding to ensure safe and compliant shipping.

 

 

Bonded neodymium arc magnets, is one of the main products sold by Zhejiang Zoyn Magnetics Co., Ltd. It has become a popular choice in various design applications due to its unique performance advantages. These magnets, crafted from a combination of neodymium, iron, and boron (NdFeB) powders mixed with a binding agent, offer distinct benefits that enhance the functionality and efficiency of numerous products.

 

Precision in Magnetic Field Distribution

In applications like magnetic sensors used in automotive ABS (Anti - lock Braking Systems), precision in magnetic field distribution is crucial. Bonded neodymium arc magnets can be designed with great accuracy to produce a specific magnetic field pattern. Their arc shape allows for a more targeted and concentrated magnetic field in a particular direction. For example, in a sensor that detects the rotation of a wheel, the arc magnet can be shaped in such a way that it provides a consistent and reliable magnetic signal as the wheel turns. This precision ensures that the sensor can accurately measure the wheel's speed, enabling the ABS system to function effectively and prevent wheel lock - up during braking.

 

Design Flexibility

One of the most significant advantages of arc bonded neodymium magnet is their design flexibility. They can be molded into complex shapes, which is highly beneficial in compact electronic devices. Consider the design of a wireless earbud. The limited space inside the earbud requires magnets that can fit snugly while still providing the necessary magnetic force for functions like speaker operation and charging. Bonded neodymium arc magnets can be customized to fit the unique curved shape of the earbud housing. This not only optimizes the use of space but also ensures that the magnetic components work efficiently within the small form factor. In addition, the bonding process allows for the integration of magnets with other materials, such as plastics or metals, which can further enhance the overall design of the product.

 

Cost - Effectiveness in Mass Production

For industries involved in mass - producing consumer goods, cost - effectiveness is a major consideration. N52 neodymium half round arc magnets are relatively inexpensive to manufacture compared to some other types of magnets. The use of a binding agent in the production process reduces the amount of raw neodymium material required. For instance, in the production of small toys that incorporate magnetic components for interactive play, the cost savings from using bonded neodymium arc magnets can be substantial. Manufacturers can produce large quantities of these toys without incurring high material costs. Moreover, the ease of molding these magnets into the required shapes simplifies the manufacturing process, further reducing production time and costs.

 

Resistance to Demagnetization

In applications where magnets are exposed to varying environmental conditions, resistance to demagnetization is vital. Bonded neodymium arc magnets exhibit good resistance to demagnetization. Take the example of magnetic closures used in outdoor clothing. These closures need to maintain their magnetic strength even when exposed to moisture, temperature changes, and mechanical stress. Bonded neodymium arc magnets can withstand these harsh conditions and continue to function effectively. Their resistance to demagnetization ensures that the clothing closures remain secure, providing a reliable and long - lasting solution for outdoor enthusiasts.

 

Bonded neodymium arc magnets offer a range of key advantages in design, from precision in magnetic field distribution and design flexibility to cost - effectiveness in mass production and resistance to demagnetization. These qualities make them an ideal choice for a wide variety of applications, spanning from automotive and electronics to consumer goods and outdoor gear.

 

If you have more application requirements or questions about magnets products, please contact our professional team.

In the world of magnetism, neodymium magnets have emerged as a game - changing force. Their unique properties have made them a popular choice across a wide range of industries. But what exactly makes neodymium magnets stand out from other magnetic materials?

 

Exceptional Magnetic Strength

Neodymium magnets are renowned for their incredibly high remanence. Remanence refers to the magnetic field remaining in a magnet after the external magnetic field used to magnetize it is removed. N52 grade neodymium magnets, one of the strongest grades available, can have remanence values as high as 1.4 teslas. To put this into perspective, ferrite magnets, a common alternative, typically have remanence in the range of 0.2 - 0.4 teslas. This high remanence allows neodymium magnets to generate a much stronger magnetic pull, making them ideal for applications where a powerful magnetic force is required, such as in electric motors used in hybrid cars or in high - performance speakers.

 

Another aspect of their strength is high coercivity. Coercivity is the measure of a magnet's ability to resist demagnetization. Neodymium magnets have a very high coercivity, which means they can maintain their magnetic properties even when exposed to strong external magnetic fields or high temperatures (to a certain extent). In comparison, alnico magnets, which are known for their good temperature stability, have lower coercivity values in some cases. This makes neodymium magnets more reliable in applications where there may be a risk of accidental demagnetization.

 

Power - to - Size Ratio

One of the most significant advantages of neodymium magnets is their remarkable power - to - size ratio. Due to their high magnetic strength, small neodymium magnets can deliver a substantial magnetic force while being relatively small in size. This is a huge benefit in applications where space is at a premium, such as in portable electronics like smartphones, tablets, and wireless earbuds. In these devices, small neodymium magnets are used in components like vibration motors and speakers, providing the necessary magnetic functionality without taking up too much space.

 

Ease of Integration

Their lightweight nature also makes them easier to integrate into various products. When compared to larger and heavier magnetic materials, neodymium magnets allow for more flexible design options. For example, in the aerospace industry, where weight reduction is crucial for fuel efficiency, neodymium magnets can be used in actuators and sensors without adding excessive weight to the aircraft.

 

Diverse Industrial Uses

Neodymium magnets find applications in a vast array of industries. In the medical field, they are used in MRI machines to generate the strong magnetic fields required for imaging. Their precision and strength enable detailed and accurate scans. In the manufacturing industry, circular strong neodymium magnets are used in magnetic separators to remove metal contaminants from materials. In the renewable energy sector, neodymium magnets are a key component in wind turbine generators, helping to convert wind energy into electricity efficiently.

 

Consumer Product Applications

In consumer products, neodymium magnets are everywhere. They are used in magnetic closures for bags and wallets, providing a convenient and secure way to fasten. In toys, they can create interactive and engaging play experiences. Their versatility stems from their ability to be shaped, sized, and magnetized in different ways to suit specific application requirements.

 

Neodymium magnets' exceptional magnetic strength, compact size, and versatility set them apart from other magnetic materials, making them an invaluable resource in modern technology and industry.

On March 6, 2025, Zoyn Magnetics and Hangzhou Dianzi University (HDU) held a prestigious signing and inauguration ceremony for their newly established Joint Research Center at Zoyn Magnetics' headquarters. This landmark event was graced by prominent leaders, including Shen Li, Party Secretary of the School of Materials and Environmental Engineering at HDU; Dean Zhang Xuefeng; Vice Dean Zhao Lizhong; Deputy Director of the Municipal Bureau of Economy and Information Technology, Chen Wenyao; Secretary-General of the Provincial Magnetic Industry Association, Tan Huming; along with Zoyn Magnetics’ key executives, Chairman Ren Yuanyue, Zhao Ye and others.

 

In today’s rapidly evolving global technology landscape, innovation is the driving force behind industrial and economic growth. Strengthening industry-academia collaboration and accelerating the commercialization of scientific advancements have become crucial in shaping a competitive and forward-thinking business environment. As a national-level "Little Giant" enterprise specializing in high-performance NdFeB permanent magnets—Zoyn has always regarded technological innovation as its cornerstone. With annual R&D investment exceeding 5% of revenue and ownership of 87 core patents, the company’s products are widely applied in strategic fields such as new energy vehicles, smart equipment, etc. The collaboration with HDU targets cutting-edge advancements like "ultra-high-temperature-stable permanent magnets" and "nano-scale grain boundary diffusion technology." Over the next three years, the partnership aims to commercialize five core patented technologies, accelerating product iteration by 30%.

 

A New Paradigm for Industry-Education Integration: Building an Innovation Ecosystem

The Joint R&D Center pioneers a “dual-engine” collaboration model, driving both technological breakthroughs and talent cultivation:

Demand-Driven R&D: A “Technical Challenges Pool” consolidates critical production pain points identified by the enterprise. HDU research teams will employ a mission-oriented approach to systematically tackle these challenges, accelerating innovation.

Tailored Talent Development: The “Distinguished Engineers Program”, jointly designed by both parties, will integrate Zoyn’s technical experts as mentors, fostering a new generation of interdisciplinary talent equipped with real-world problem-solving skills.

End-to-End Innovation Incubation: Supported by dedicated transformation fund, the center implements a three-stage validation system—lab prototype, pilot testing, and mass production—ensuring a smooth and efficient transition from research to commercialization.

 

This synergy of "academic brilliance and industrial pragmatism" not only propels Zoyn’s high-quality growth but also shaping the future of technological innovation. We remain steadfast in its mission to push the boundaries of magnetic materials technology, ensuring that it remains at the vanguard of global industrial progress.