The Zhitong Finance App learned that China's rare earths (00769) rose more than 9%. As of press release, it had risen 9.52% to HK$0.34, with a turnover of HK$1.41 million.
According to the news, the Ministry of Industry and Information Technology and the Ministry of Natural Resources recently announced the first batch of rare earth quotas for 2024. Among them, mineral product indicators and separation indicators increased by 12.50% and 10.40% compared to the first batch in 2023.
This time, the growth rate of mineral products and smelting indicators is lower than in previous years. Guojin Securities believes that if the second batch of indicators in 2024 is the same as the first batch, and the third batch of indicators is not released, the global rare earth supply and demand pattern is expected to improve significantly in 2024; in the medium to long term, as overseas mine supply faces bottlenecks, domestic quota growth is expected to slow down, and demand for superimposed robots and industrial motors for new energy vehicles is relayed, and the rare earth price center is expected to gradually rise;
The bank pointed out that both the upstream resource side and the midstream magnetic materials sector are expected to fully benefit from the increase in rare earth prices. Target beneficiaries of the magnetic materials sector: The resource side suggests focusing on China's rare earths (leading medium to heavy rare earths, fully benefiting from integration), etc.