Investment Rating - The report maintains a "Market Weight" rating for the non-ferrous metals industry, indicating that the industry index is expected to perform within ±10% of the market index over the next six months [66]. Core Insights - The non-ferrous metals industry has shown a 4.02% increase over the past two weeks, outperforming the CSI 300 index by 3 percentage points, ranking 5th among 31 industries [3][12]. - The small metals sector has surged by 14.01%, while precious metals have declined by 3.84% during the same period [18]. - The Federal Reserve's hawkish stance has led to a reduction in expectations for interest rate cuts, impacting the prices of precious and industrial metals [5][60]. Market Performance Summary - As of July 31, 2025, the LME copper price is at $9,607/ton, aluminum at $2,562.5/ton, lead at $1,969.50/ton, zinc at $2,762/ton, nickel at $14,950/ton, and tin at $32,685/ton [24][60]. - The COMEX gold price is $3,342.30/ounce, down $7.5 since early July, while silver is at $36.79/ounce, up $0.54 [35][60]. Subsector Analysis - Rare earth prices have stabilized and increased due to improved supply-demand dynamics, with the rare earth price index at 204.36, up 22.35 since early July [43][63]. - Tungsten prices are rising due to supply constraints and increased demand from the new energy and military sectors, with average tungsten concentrate prices at 192,900 yuan/ton, up 19,000 yuan [63]. Recommended Stocks - The report suggests focusing on China Rare Earth (000831) and Kinglong Permanent Magnet (300748) due to their expected profitability improvements [64]. - Xiamen Tungsten (600549) is also highlighted for its strategic value in the tungsten market [63].

8月1日，稀土指数盘中跌幅超2%，包钢股份、盛和资源、北方稀土、中国稀土、广晟有色跌幅靠前。 （文章来源：每日经济新闻） ...

Group 1 - On July 31, the financing buy-in amount for China Rare Earth reached 181 million yuan, ranking 153rd in the two markets, with a financing repayment amount of 256 million yuan and a net sell of 74.92 million yuan [1] - Over the last three trading days, from July 29 to July 31, China Rare Earth received financing buy-ins of 390 million yuan, 325 million yuan, and 181 million yuan respectively [1] Group 2 - On the same day, the short selling amounted to 0.05 thousand shares, with a net buy of 0.51 thousand shares [2]

Core Viewpoint - The U.S. is investing heavily in domestic rare earth production to reduce reliance on China, but faces significant challenges in cost, technology, and time to establish a competitive industry [1][22][40]. Group 1: U.S. Investment and Production - The Pentagon invested $400 million in MP Materials and promised an additional $150 million loan to expand rare earth separation capabilities [3][4]. - Apple followed with a $500 million investment, indicating a broader corporate involvement in the U.S. rare earth self-sufficiency initiative [4]. - The Mountain Pass mine in California, the only operating rare earth mine in the U.S., has begun large-scale production, achieving a record output of over 45,000 metric tons of rare earth oxide concentrate in 2024, accounting for 15% of global production [5][7]. Group 2: Cost and Competitive Disadvantages - The cost of rare earth refining in the U.S. is significantly higher, with China at $35,000 per ton compared to the U.S. at $58,000 per ton, a 65% difference [15]. - Even with increased production, U.S. facilities may only meet 30% of military needs by 2028, highlighting a substantial gap in supply for electric vehicles and other sectors [17][19]. - The U.S. lacks the necessary refining technology and skilled workforce, having fallen behind China, which controls nearly 90% of global rare earth refining capacity [19][22]. Group 3: China's Strategic Position - China has implemented export restrictions on seven rare earth elements, impacting U.S. industries such as automotive and defense, revealing vulnerabilities in the supply chain [11][13]. - The Chinese rare earth industry benefits from stable government support and a well-established ecosystem, making it difficult for the U.S. to replicate this model quickly [24][26]. - China's recent measures include a dynamic export adjustment mechanism and a safety assessment system for the rare earth industry, maintaining its dominant position in the global market [13][28]. Group 4: Future Outlook and Competition - The competition for rare earths is evolving into a contest of development models, with the U.S. focusing on technology and capital, while China emphasizes systematic layout and long-term accumulation [38][40]. - The International Energy Agency predicts a threefold increase in global rare earth demand by 2030, but supply diversification is progressing slowly, posing systemic risks for over-reliance on any single country [36][44]. - The U.S. is also exploring strategic reserves and technological innovations in recycling, but these efforts will take time to materialize [40][42].

稀土暴涨背后的阴谋 美国汽车工厂的生产线上，工人们拆开一批印着"中国制造"的磁体包装箱，车间里停滞数周的机器终于重新轰鸣起来。海关数据显示，6月中国对美稀土磁 体出口量飙升至353吨，比5月的46吨暴增660%。白宫贸易代表看到报告时，却把咖啡杯重重砸在桌上——这些磁体只能用来造电动车电机，而美军F-35战 机生产线急需的高纯度铽镝合金，中国一克都没放行。 出口暴涨的真相：一场精心设计的"放水" 表面看是贸易回暖，内里藏着精准的战术切割。2025年4月，中国对钐、钆、铽等7类中重稀土物项实施出口管制，瞬间卡住美国军工命脉。五角大楼内部报 告显示，F-35战机单机需消耗417公斤稀土，而"弗吉尼亚"级核潜艇的稀土需求量高达4吨。当铃木汽车因零件短缺被迫停产时，美国车企的库存周转天数从 45天暴跌至22天，生产线濒临瘫痪。 技术卡脖子才是致命伤。稀土分离提纯需经历200道工序、900个化学反应釜，中国工程师用三十年突破"串级萃取"技术，能将17种稀土元素纯度提至 99.9999%。而美国唯一掌握该技术的Molycorp公司，2015年就被中国低价稀土挤垮破产。五角大楼报告坦承："即便现在重启生产线，9个月内军工体 ...

本文源自：金融界 作者：智投君 7月30日，沪深两融数据显示，中国稀土获融资买入额3.25亿元，居两市第66位，当日融资偿还额4.47亿 元，净卖出12244.41万元。 最近三个交易日，28日-30日，中国稀土分别获融资买入7.40亿元、3.90亿元、3.25亿元。 融券方面，当日融券卖出0.97万股，净卖出0.87万股。 ...

每经AI快讯，有投资者在投资者互动平台提问：请问公司产品有镨钕系列吗？ 中国稀土（000831.SZ）7月30日在投资者互动平台表示，公司主营产品稀土氧化物中包括氧化镨钕、氧 化镨、氧化钕、氧化镝、氧化铽等产品。 （文章来源：每日经济新闻） ...

Group 1 - The core point of the article highlights the financing activities related to China Rare Earth, with a total financing buy amount of 3.90 billion yuan on July 29, ranking 59th in the two markets [1] - Over the recent three trading days from July 25 to July 29, China Rare Earth experienced financing buy amounts of 7.31 billion yuan, 7.40 billion yuan, and 3.90 billion yuan respectively [1] - On the same day, the securities lending saw a sell-off of 0.17 thousand shares, with a net buy of 1.34 thousand shares [2]

Group 1 - Rare earth elements, despite their name, are not extremely rare in nature but are essential for various high-tech applications, including smartphones, electric vehicles, and military systems [1][3] - In the military sector, rare earths provide critical capabilities, such as stability in missile guidance systems and radar absorption in stealth aircraft [3] - China holds a dominant position in the rare earth market, controlling approximately 70% of global extraction and 90% of refining capacity, making it a key player in the global supply chain [3][5] Group 2 - The U.S.-China trade war highlighted China's leverage over rare earth exports, leading to significant impacts on U.S. industries reliant on these materials [5][7] - Japan's historical dependence on Chinese rare earths, exceeding 90%, has prompted efforts to diversify supply sources and reduce reliance on China [7][9] - Recent developments in Japan include the announcement of a new electric motor magnet that does not rely on rare earth elements, potentially reducing dependence on Chinese supplies [9][11] Group 3 - Japan and the EU are collaborating to secure rare earth supply chains, with plans to invest in mining operations outside of China [11][18] - However, challenges remain, including higher extraction costs and the need for significant investment and time to establish alternative supply chains [16][18] - China's comprehensive control over the entire rare earth industry chain, from mining to processing, presents a significant barrier for Japan and the EU in their attempts to reduce reliance on Chinese rare earths [18]

有色金属行业资金流入榜 沪指7月29日上涨0.33%，申万所属行业中，今日上涨的有16个，涨幅居前的行业为通信、钢铁，涨幅 分别为3.29%、2.59%。跌幅居前的行业为农林牧渔、银行，跌幅分别为1.36%、1.19%。有色金属行业 今日下跌0.27%。 资金面上看，两市主力资金全天净流出356.37亿元，今日有4个行业主力资金净流入，医药生物行业主 力资金净流入规模居首，该行业今日上涨2.06%，全天净流入资金29.96亿元，其次是钢铁行业，日涨幅 为2.59%，净流入资金为4.19亿元。 主力资金净流出的行业有27个，有色金属行业主力资金净流出规模居首，全天净流出资金44.34亿元， 其次是机械设备行业，净流出资金为37.92亿元，净流出资金较多的还有计算机、基础化工、非银金融 等行业。 有色金属行业今日下跌0.27%，全天主力资金净流出44.34亿元，该行业所属的个股共137只，今日上涨 的有51只，涨停的有1只；下跌的有85只。以资金流向数据进行统计，该行业资金净流入的个股有29 只，其中，净流入资金超3000万元的有7只，净流入资金居首的是云南锗业，今日净流入资金6.29亿 元，紧随其后的是鑫科材料 ...