The Ministry of Industry and Information Technology has publicly solicited opinions on the "Total Quantity Control Management Measures for Rare Earth Mining and Rare Earth Smelting and Separation (Temporary) (Draft for Public Consultation)" and the "Management Measures for Information Traceability of Rare Earth Products (Temporary) (Draft for Public Consultation)".
The draft for public consultation states that the Ministry of Industry and Information Technology, together with relevant departments, will identify rare earth mining enterprises and rare earth smelting and separation enterprises and announce them to the public. The rare earth mining enterprises and rare earth smelting and separation enterprises should be large rare earth Conglomerates and their affiliated rare earth mining and rare earth smelting and separation enterprises promoted by the state. Other organizations and individuals not identified according to the first clause may not obtain rare earth symbols. Organizations and individuals that do not obtain rare earth symbols may not engage in rare earth mining and smelting and separation production activities.
Rare earth enterprises should establish a system for recording the flow of rare earth products, equip necessary facilities and personnel for implementing the information traceability management of rare earth products, and truthfully record the flow information of rare earth products. They should input the basic indicator data into the rare earth traceability system by the 10th of each month to ensure the data information is real, accurate, and complete. Rare earth enterprises are encouraged to build internal rare earth traceability systems to improve information management levels.
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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