HK Stock Concept Tracker | Two Rare Earth Leaders Raise Prices in Sync, Signaling That Rare Earth Prices Are Stabilizing at High Levels (with Concept Stocks)

China Northern Rare Earth and Inner Mongolia BaoTou Steel Union, two giants, announced price adjustments. On the evening of October 9, Inner Mongolia BaoTou Steel Union and China Northern Rare Earth both announced plans to adjust the related-party transaction price of rare earth concentrate for the fourth quarter of 2026 to 38,769 yuan/ton (dry basis, REO=50%), excluding tax, with the tax-exclusive price increasing or decreasing by 775.38 yuan/ton for each 1% increase or decrease in REO. Compared with 38,565 yuan/ton in the third quarter, this price rose 0.53% quarter-on-quarter; compared with 26,205 yuan/ton in the fourth quarter of 2025, it was still about 48% higher year-on-year. This pricing is seen as a signal that rare earth concentrate prices are stabilizing at a high-level platform. On July 10 this year, Inner Mongolia BaoTou Steel Union and China Northern Rare Earth announced a third-quarter rare earth concentrate transaction price of 38,565 yuan/ton, a slight quarter-on-quarter decline, ending seven consecutive quarters of increases. Rare earth is the collective term for 17 elements: the 15 lanthanide elements plus scandium and yttrium, and is known as the "vitamin of industry." The largest user of neodymium metal is neodymium-iron-boron permanent magnet materials. NdFeB permanent magnets are called the contemporary "king of permanent magnets" because of their high magnetic energy product and are widely used in electronics, machinery, and other industries. Current downstream demand for rare earth covers fields such as servo motors for new energy vehicles, joint servo motors for humanoid Siasun Robot&Automation, wind power equipment, and industrial automation equipment. In the first half of 2026, global humanoid Siasun Robot&Automation shipments increased by nearly 300% year-on-year, and consumer demand in traditional and emerging application areas such as magnetic materials driven by new energy vehicles and AI computing power servers continued to grow. Overall, major rare earth varieties this year showed a trend of rising, then falling back, and then stabilizing. Praseodymium-neodymium oxide once surged to a high of nearly 890,000 yuan/ton in February this year; afterward it fell back rapidly, and in March it once dropped to around 680,000 yuan/ton; in April it rose and fell back again, and in July it also rose and fell back. Since August, praseodymium-neodymium oxide prices have generally stabilized, with the price at 740,000 yuan/ton on October 10, a slight increase from the August low. From the performance side, since the beginning of this year the industry has shown a backdrop of "rising volume and price." As a resource supplier, Inner Mongolia BaoTou Steel Union's net profit attributable to shareholders in the first half was 279 million yuan, up 84.61% year-on-year. Although its steel main business is still digesting pressure, rare earth resource income has become an important support for its profit improvement. China Northern Rare Earth achieved net profit attributable to shareholders of 2.053 billion yuan in the first half, a sharp increase of 120.46% year-on-year. In its semi-annual report, it attributed the growth to the resonance of supply and demand: upstream, affected by policy factors such as rare earth total volume indicators, capacity release was limited and raw material supply was generally tight; downstream demand growth in fields such as new energy, humanoid Siasun Robot&Automation, and AI computing power servers drove praseodymium-neodymium product prices to fluctuate at high levels. Xiangcai Securities believes that in the medium to long term, it will be difficult for the supply side to see large increases under policy constraints, while the demand side will still have stable incremental growth over the long term, and the overall upward trend in industry chain prices will also be difficult to easily break, so medium- to long-term performance support for the sector remains. First, continue to pay attention to upstream rare earth resource companies. With strengthened industry policy support and strategic value positioning, and with supply-demand support giving resilience to industry chain prices, related rare earth resource companies are expected to benefit from valuation premiums and stable profitability. Second, as the rare earth price recovery trend continues, downstream magnetic material companies' profits are expected to continue recovering. Related concept stocks: Jl Mag Rare-Earth (06680): Jl Mag Rare-Earth (06680) announced that, by leveraging the platform resources and investment capabilities of professional investment institutions, it will actively discover and invest in high-quality projects consistent with the development strategy of Jiangxi Jl Mag Rare-Earth Technology Co., Ltd. (hereinafter referred to as the "Company") to enhance the Company's overall competitiveness. The Company plans to use its own funds to increase capital by no more than RMB 30 million in its wholly owned subsidiary Jl Mag Rare-Earth (Ningbo) Investment Co., Ltd. (hereinafter referred to as "Jinli Ningbo Investment"), and through Jinli Ningbo Investment, using the capital increase funds and its own funds, participate in the investment in Jiaxing Jinchi Zhilian Venture Capital Partnership (Limited Partnership) [final name subject to industrial and commercial registration] (hereinafter referred to as the "Jiaxing Jinchi Zhilian Fund"), subscribing for a share of 55 million yuan. After the capital increase is completed, the registered capital of Jinli Ningbo Investment will increase from RMB 350 million to RMB 380 million, and the Company will still hold 100% of its equity. Relying on the resources and advantages the Company has accumulated in the rare earth permanent magnet material industry chain, and by cooperating with professional investment institutions to participate in industrial funds, the Company will further improve its industry chain layout, promote positive complementarity between business operations and external investment, and enhance its overall competitiveness. At the same time, by fully leveraging the resource advantages, investment experience, and sound risk control systems of external professional investment institutions, the Company can promptly grasp investment opportunities, reduce investment risks, improve the quality of its external investment, and create more value for the Company and its shareholders. China Rare Earth Resources And Technology (00769): Public information shows that China Rare Earth Resources And Technology is now named China Rare Earth Resources And Technology Holdings Limited, formerly known as Yixing Xinwei Holdings Limited. The company is mainly engaged in the manufacture and sale of rare earth and refractory products. Among these, the rare earth segment is engaged in the manufacture and sale of rare earth products, and its rare earth products include metal oxides and fluorescent products, such as lamp phosphors, yttrium oxide, and yttrium europium oxide. MMG (01208): In early September, Citi released a research report stating that it updated its MMG (01208) model to reflect first-half 2026 results and the latest management guidance, and raised its earnings forecasts for 2026 to 2028 by 3.7%, 36.3%, and 14.6%, respectively, to USD 1.769 billion, USD 2.154 billion, and USD 1.861 billion. The bank raised MMG's target price from HKD 11.2 to HKD 12, mainly driven by higher copper price forecasts and a downward revision to the Las Bambas copper C1 cost assumption. It maintained a "Buy" rating. Aluminum Corporation Of China (02600): The company is a leading enterprise in China's aluminum industry and is also a large aluminum production and operation enterprise integrating the exploration and mining of resources such as bauxite and coal, the production, sales, and technology research and development of alumina, primary aluminum, aluminum alloys, and carbon products, and thermal power and new energy power generation.