HK Stock Market Move | Jl Mag Rare-Earth (06680) Falls Over 7%, Myanmar Rare Earth Mine Expected to Resume Production Fastest this Week, Rare Earth Supply and Demand Still Weak.

Jl Mag Rare-Earth (06680) fell by more than 7%, falling 7.3% to HKD 8.76 as of the time of writing, with a turnover of HKD 49.162 million. On the news front, it is reported that less than a month after the blockade, the rare earth mining area in Myanmar has already stopped fighting and entered into negotiations. The rare earth mine in Myanmar is expected to resume production as early as this week, but full production may have to wait until complete ceasefire. Some industry insiders have said that even if the rare earth mines in Myanmar continue to be shut down, the impact will not be significant as domestic ion ore inventories are sufficient and prices of medium and heavy rare earths are relatively stable. According to SMM research, in terms of light rare earth production, although the supply of praseodymium and neodymium in October has slightly decreased, downstream demand also experienced a noticeable decline in October, so-called "Silver October" market conditions are practically non-existent. As for medium and heavy rare earth production, although imports of ion ore from Myanmar were unable to enter due to conflicts in the region in October, domestic ion ore inventories remain sufficient due to a large amount of imports from Myanmar in the previous period, and separation plants have not experienced shortages of raw materials, with production remaining relatively stable. SMM points out that for the future rare earth market, downstream demand for rare earths is still weak, and with supply-side disturbances unresolved and no noticeable improvement in demand, the game between the upstream and downstream sectors of rare earths will become more intense. It is expected that the future rare earth market will operate steadily.