HK Stock Market Move | Jl Mag Rare-Earth (06680) dropped by over 4% again, Burmese rare earth mining area may resume production this week, demand from downstream rare earth industries remains weak.

JL Mag Rare-Earth (06680) has fallen for two consecutive days, dropping by over 4% in the afternoon. As of the time of writing, it has fallen by 4.2% to 8.22 Hong Kong dollars, with a trading volume of 357.528 million Hong Kong dollars. On the news front, it has been reported that after less than a month of closure, negotiations have started in the rare earth mining areas in Myanmar, and production in the area is expected to resume as soon as this week, with full production potentially waiting until a complete ceasefire. According to SMM, the "silver ten" effect in the rare earth market is not yet evident. The listing price of China Northern Rare Earth in October is not as high as expected, and the large amount of Myanmar ore imported at the end of September has led to a relatively sufficient supply of rare earth ore, as well as weak downstream demand, resulting in a decline in both quantity and price of praseodymium and neodymium oxide in October. SMM points out that for the future of rare earths, downstream demand for rare earths is still weak at present, and with disruptive factors in the supply side yet to ease and no clear improvement in demand side, the struggle between the upstream and downstream of rare earths will become more intense, and it is expected that the rare earth market will stabilize in the future.