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Hong Kong stock market changes | jl mag rare-earth (06680) falls by over 4% again, Myanmar's rare earth mining area may resume production this week, downstream demand for rare earth still remains weak.
jl mag rare-earth (06680) has been pulling back for two consecutive days, falling over 4% again in the afternoon. As of the press time, it has dropped by 4.08%, closing at 8.23 Hong Kong dollars, with a turnover of 35.7528 million Hong Kong dollars.
Hong Kong stocks fluctuated | Non-ferrous stocks collectively under pressure, jl mag rare-earth (06680) fell nearly 8% in the afternoon as the strong dollar continued to exert pressure on non-ferrous metals.
The colored stocks are collectively under pressure. As of the time of publication, jl mag rare-earth (06680) is down 7.3%, trading at 8.76 Hong Kong dollars; ganfenglithium (01776) is down 7.16%, trading at 24 Hong Kong dollars; lingbao gold (03330) is down 4.92%, trading at 2.9 Hong Kong dollars.
Rare earth metal concept stocks weakened, jl mag rare-earth (06680) fell by 6.77%, it is rumored that Myanmar's rare earth mines may resume production as soon as this week.
Gold News | Rare earth metal concept stocks are weakening. As of the time of publication, jl mag rare-earth (06680) is down 6.77%, and china rareearth (00769) is down 2.13%. In terms of news, there has been new progress regarding the shutdown of the rare earth mines in Myanmar. Currently, a ceasefire has been established in the Myanmar rare earth mines, entering into negotiations. The Myanmar rare earth mines are expected to resume production as early as this week, but full production may have to wait until a complete ceasefire. In addition, industry insiders claim: "Even if the Myanmar rare earth mines continue to be shut down, the impact is not significant; domestic ion ore inventory is sufficient, and currently, the prices of medium and heavy rare earths are relatively stable."
Myanmar mining area may resume production this week, will rare earth prices fluctuate? Industry insiders: It's difficult for Q4 praseodymium neodymium oxide to exceed 450,000 yuan/ton. | Industry News
① Currently, ceasefire negotiations have taken place in Myanmar's rare earth mining areas, with a rapid resumption of production expected this week, but full production may have to wait until a complete ceasefire; ② Industry insiders believe that if Myanmar mines continue to suspend production, the domestic impact will be minor as there is a sufficient inventory of ion ore in the country, and the prices of medium and heavy rare earths are relatively stable; ③ It is reported that the supply of medium and heavy rare earths in the domestic market exceeds demand, and the consumption levels in both upstream and downstream are low, leading to inventory buildup and making it difficult for prices to rise significantly.
jl mag rare-earth (300748.SZ): Not involved in the battery business
On November 13th, Geelong reported that JL Mag Rare-Earth (300748.SZ) stated on the investor interaction platform that the company is not involved in battery business. The company's products are widely used in new energy vehicles, auto parts, energy-saving variable frequency air conditioners, wind power generation, 3C, siasun robot&automation and industrial servo motors, energy-saving elevators, rail transportation and other fields.
Hong Kong stocks are moving | Rare earth metals stocks are rising, China rareearth (00769) is up over 6%, jl mag rare-earth (06680) is up over 4%.
Rare earth metals concept stocks rose in early trading. As of the time of publication, China Rareearth (00769) rose by 6.59%, to 0.485 Hong Kong dollars; jl mag rare-earth (06680) rose by 4.26%, to 9.55 Hong Kong dollars.
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