Gelonghui, May 27丨After closing down 17.5% last Friday, China Rare Earth (0769.HK), which had previously experienced a surge (up 108% in one day), fell significantly again today, now trading at HK$0.47. It fell 5.05%, with temporary transaction volume of HK$17.29 million, and the latest total market value of HK$1.1 billion.
In addition, Xingyu Holdings (2346.HK), a manufacturer of rare earth permanent magnet materials, fell significantly again today after falling 12.2% on the previous trading day. It is currently down about 12%.
(Quote source: Futu Securities )
Zhuochuang Information analyst Zhang Wei said that in the short term, rare earth import restrictions will have a greater impact on the industry. But in fact, in recent years, domestic environmental protection governance has been combined with supply-side reforms, coupled with the weak global macroeconomic background, the supply and demand of rare earths have been weak, and there is a lack of substantial support for prices.
In the future, the price increase of domestic medium and heavy rare earths will still be a relatively obvious trend. The uncertainty factor is whether the country will start selling reserves to ease the pressure of market demand and expand the import volume of rare earth minerals from other regions.
