Two Major Mining Giants Announce Price Hikes; 13 Stocks See Surging Earnings But Plunging Share Prices

On the evening of October 9, Baogang Steel and Northern Rare Earth jointly announced plans to adjust the price for rare earth concentrate related transactions in Q4 2026 to 38,769 yuan/ton (dry basis, REO=50%), excluding tax. The price will increase by 775.38 yuan/ton for every 1% change in REO content. Compared with the Q3 transaction price of 38,565 yuan/ton, this represents a quarterly increase of 0.53%. Against the Q4 2025 price of 26,205 yuan/ton, the current pricing is approximately 48% higher. Driven by sustained high prices, the rare earth permanent magnet sector saw significant earnings growth in the first half of the year. China Rare Earths reported a net profit surge exceeding 450%, while Ningbo Yunsheng, Shenghe Resources, Xiamen Tungsten, and Northern Rare Earth all doubled their net profits year-on-year. Among stocks with first-half net profit increases exceeding 20% (including turnarounds from losses) that have seen share price declines within the year, there are a total of 13 rare earth permanent magnet companies. Ningbo Yunsheng, Shenghe Resources, and Northern Rare Earth all doubled their first-half net profits; meanwhile, eight stocks including Jinli Permanent Magnet, Tianhe Magnetic Materials, Shengxin Lithium Energy, and Zhenghai Magnetic Materials have each fallen more than 20% year-to-date. (Securities Times)