Core Viewpoint - The fluorite market is experiencing a recovery, with prices returning to last year's levels, driven by increased domestic investment in Mongolian fluorite mines and expectations of supply tightening in the fourth quarter [1][2]. Group 1: Market Trends - The latest fluorite prices have risen to 3200-3400 RMB/ton, aligning with last year's figures and remaining at a relatively high level compared to previous years [1]. - After a decline in fluorite prices during the first seven months of the year, a bottom was reached in August, followed by a gradual recovery [1]. - Analysts indicate that the sentiment among fluorite manufacturers is one of reluctance to sell, anticipating significant price increases, which has led to a tight market supply [1]. Group 2: Investment in Mongolia - Companies such as Jinshi Resources, Jiangxi Geological Construction Investment Group, and Tongzheng Mining have invested in Mongolian fluorite mines, achieving a combined annual capacity of 530,000 tons [2]. - The total fluorite production in China is projected to reach 6.6 million tons in 2024, with new investments contributing to this growth [2]. - The decision to invest in Mongolia is primarily driven by cost considerations, as domestic mining costs are high and construction periods are lengthy, while Mongolian mining rights are relatively cheaper and have shorter construction timelines [2]. Group 3: Production Challenges - The projects in Mongolia have completed basic construction and are entering initial production phases, but output is expected to be limited due to seasonal shutdowns caused by low temperatures [2]. - Concerns exist regarding the potential impact of increased supply from new projects on future fluorite price trends, despite the limited output expected in the short term [2].