Rare earth concept stocks rose. As of press release, China's rare earths (00769) rose 10.34% to HK$0.32; Jinli Permanent Magnet (06680) rose 3.27% to HK$7.27.
The Zhitong Finance App learned that rare earth concept stocks were higher. As of press release, China's rare earths (00769) rose 10.34% to HK$0.32; Jinli Permanent Magnet (06680) rose 3.27% to HK$7.27.
According to the news, the Ministry of Industry and Information Technology and the Ministry of Natural Resources issued the first batch of rare earth mining, smelting and separation total control targets of 135,000 tons and 127,000 tons respectively in 2024. The year-on-year growth rate of the first batch of separation indicators was 20%/18%, respectively; this time, the growth rate of mineral products and smelting indicators was lower than in previous years. Debon Securities pointed out that the year-on-year growth rate of the first batch of indicators contracted significantly during the year. The growth rate of domestic rare earth supply narrowed throughout the year, and rare earth prices are expected to rise again under weak supply.