Lithium and rare earth stocks were collectively in the red today: $Critical Metals(CRML.US) rose slightly, $USA Rare Earth(USAR.US) also rose slightly, $GANFENGLITHIUM(01772.HK) rose over two percentage points, and $MP Materials(MP.US) rose over one percentage point. Today's drivers were the U.S. Department of Defense's investment in the rare earth supply chain and the stabilization of Canadian uranium prices, which boosted the entire critical metals chain. The demand for rare earth permanent magnets is viewed positively in the long term for AI robots/defense.

On the lithium mining side, Ganfeng is a leader in China's lithium industry and is benefiting from the industrialization of solid-state batteries and the rebound in lithium prices from their June lows. The three rare earth companies cover three lines: North American strategic reserves, heavy rare earth processing, and Canadian light rare earths, each with different story elasticity.