The rare earth concept bucked the trend. As of press release, Jinli Permanent Magnet (06680) rose 10.54% to HK$11.12; China's rare earths (00769) rose 4.17% to HK$0.5. 06680,00769
The Zhitong Finance App learned that the rare earth concept bucked the trend. As of press release, Jinli Permanent Magnet (06680) rose 10.54% to HK$11.12; China's rare earths (00769) rose 4.17% to HK$0.5.
CITIC Securities released a research report stating that Northern Rare Earth announced the listing price of light rare earth products in November 2024. The listing price of praseodymium oxide was 0.417 million yuan/ton, up 0.22% month-on-month; the listed price of praseodymium metal was 0.516 million/ton, up 0.19% month-on-month, and continued to rise since August, which is expected to boost market confidence. Currently, rare earth management regulations have been officially implemented, and the industry is expected to develop in a high-quality and standardized manner.
The bank continued that on the supply side, due to disturbances in Myanmar, the number of imported mines fell sharply from January to September 2024, and the growth rate of domestic rare earth mining indicators fell 15.5 pcts year-on-year in 2024; on the demand side, as we enter the peak demand season in the fourth quarter, demand for new energy vehicles, consumer electronics, inverter air conditioning, wind power, etc. is expected to continue to rise, and demand in emerging fields such as robots, low-altitude economy, and industrial motors may gradually grow. The rare earth permanent magnet sector is expected to continue to rise, and the rare earth permanent magnet sector is expected to continue to rise and continue to recommend strategic allocation values for the rare earth industry chain.