EPS (electric power steering), namely electric power steering system, is a power steering system that relies on the motor to provide auxiliary torque in the automobile. It is the main use of magnetic materials in the traditional automobile field. The automotive steering system can be divided into mechanical steering system (MS) and power steering system (PS); Power steering system is a steering system operated by power, including hydraulic power steering system (HPS), electronic hydraulic power steering system (EHPS) and electronic power steering system (EPS). Because EPS has the advantages of small weight, low energy consumption and high sensitivity, it is more and more widely used in the field of passenger cars. At present, the global vehicle EPS carrying rate has exceeded 50%, but the EPS carrying rate of domestic independent brands is only about 20%, and there is still much room to improve the penetration rate. 

It is cautiously assumed that the automobile stimulus policy in 2019 will lead to a 3% increase in automobile sales and an increase in EPS penetration rate of 5pct. Generally speaking, the amount of neodymium-iron-boron magnets used in each set of EPS is about 0. 25kg, so the demand growth rate of neodymium iron boron magnetic materials for automobile EPS is expected to rebound to 16% in 2019; If car sales grow faster, the growth rate of magnetic material demand is expected to be close to 20%.