The Zhitong Finance App learned that China's rare earths (00769) rose by more than 4%. As of press release, it had risen 4.23% to HK$0.37, with a turnover of HK$1.023,000.
According to the news, Northern Rare Earth recently announced the listing prices of rare earth products for May 2024, and the prices of many rare earth products have risen month-on-month. Among them, praseodymium oxide reported 393,200 yuan/ton, up 7.52% from April 2024; neodymium oxide reported 401,500 yuan/ton, up 7.35% from April 2024; praseodymium metal reported 488,000 yuan/ton, up 7.25% from April 2024; and neodymium metal reported 498,000 yuan/ton, up 7.1% from April 2024.
Guojin Securities pointed out that as a leader in light rare earths, the listing price of Northern Rare Earths often has some guiding significance. This increase is the first since November '23, and is of great significance in boosting industry confidence. The bank believes that as the boom continues in traditional fields such as new energy vehicles and air conditioning, “equipment renewal” and “trade-in” are expected to increase demand beyond expectations, and low- and middle-end demand will pick up under economic recovery; supply-side domestic quota growth is slowing down, imported mining continues to weaken, and it continues to be optimistic about a reversal in rare earth prices.