JLMAG (06680) saw its shares climb more than 6% during morning trading. At the time of writing, the stock had risen 6.03% to HK$25.32, with a trading volume of HK$222 million.
Rare earth prices have continued to increase recently due to supply and demand dynamics. According to quotes from the Baotou Rare Earth Products Exchange, as of February 26, the average price of praseodymium-neodymium oxide stood at 886,100 yuan per ton, up 3,200 yuan per ton, while the average price of praseodymium-neodymium metal reached 1,081,000 yuan per ton, rising by 11,500 yuan per ton. Additionally, the China Chamber of Commerce for Import and Export of Medicines and Health Products recently announced that it will hold a briefing on rare earth and rare metal export policies and market trends on March 25, 2026.
Guotou Securities noted that rare earths, as critical strategic resources for new energy and high-end manufacturing, are currently experiencing significant supply-demand imbalances. Global rare earth separation and smelting capacity is highly concentrated in China, and with tightened quotas across all domestic production stages, supply constraints are becoming more pronounced. Expanding downstream demand is driving increased usage of neodymium iron boron magnets, further pushing up the price of praseodymium-neodymium oxide. This round of policy-driven price increases is supported by solid fundamentals.
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