According to Zhitong Finance APP, jl mag rare-earth (06680) surged over 10% in the afternoon, as of the press release, it rose by 8.03%, priced at 9.01 HKD, with a transaction amount of 0.125 billion HKD.

On the news front, the Secretary of the Party Committee and President of the China Nonferrous Metals Industry Association, Ge Honglin, stated at the 2024 (Seventh) china rareearth forum that it is necessary to stabilize and expand the high-end applications of rare earths, develop indigenous innovative new materials, and encourage and nurture the balanced use of rare earth elements. In addition, jl mag rare-earth recently stated that the company is keeping up with the trends of the times and is actively cooperating with world-renowned clients for the R&D of magnetic components used in humanoid robots, with small batches of deliveries occurring, but currently having minimal impact on the company’s revenue and profit.

Galaxy Securities pointed out that the overall rare earth market is still at a bottom running stage, which may be impacted by short-term sentiments due to trade closures, and the clarification of some rules following the implementation of the 'Rare Earth Management Regulations' may further tighten rare earth supply by the end of the year, potentially leading to an increase in rare earth prices. Furthermore, in the event of facing a new round of trade wars, rare earths, being an advantageous metal for china, may be anticipated by the market to become a selectable countermeasure tool in policy, receiving more policy support.