Core Viewpoint - The small metals sector in A-shares has shown a significant upward trend, with the sector index closing up by 0.79% on December 10, driven by notable price increases in various small metal varieties, particularly tungsten [2][3]. Price Movements - Tungsten prices have surged, with black tungsten concentrate (≥65%) priced at 363,000 yuan/ton, up 153.85% year-to-date; ammonium paratungstate (APT) at 535,000 yuan/ton, up 153.55%; and tungsten powder at 880 yuan/kg, up 178.48%, all reaching historical highs [3][5]. - Other small metals like cobalt and tin have also seen significant price increases, with cobalt averaging 408,000 yuan/ton (up 16.91% since October) and tin futures rising 15.74% since October [3][5]. Factors Driving Price Increases - The price increases are attributed to supply constraints, favorable macroeconomic conditions, and rising downstream demand. Supply-side constraints include strict mining quotas and environmental regulations for tungsten, and slow recovery of tin production in Myanmar [5]. - Macroeconomic factors include strong market expectations for a Federal Reserve interest rate cut, which typically weakens the dollar and supports commodity prices [5]. - Downstream demand is driven by growth in industries such as new energy, semiconductors, and military applications, enhancing the outlook for strategic small metals [5]. Capital Inflows - The small metals sector has seen substantial capital inflows, with a net inflow of 1.732 billion yuan on December 10, ranking high among secondary industries [7]. - Notable companies like Western Materials received a net inflow of 1.274 billion yuan, benefiting from their core supply roles in aerospace and marine engineering [7]. Company Performance - The small metals sector's overall performance has improved, with a total net profit of 13.589 billion yuan in the first three quarters, a year-on-year increase of 41.42% [8]. - Companies like Shenghe Resources and Northern Rare Earth have reported significant profit growth, with increases of 748.07% and 280.27% respectively [8]. Capacity Expansion - Shenghe Resources has disclosed plans for capacity expansion, with its subsidiary's high-performance rare earth polishing powder project progressing as scheduled, expected to be operational by the end of Q1 2026 [9].

Core Viewpoint - The small metals sector in the A-share market has shown a significant upward trend, driven by multiple factors including supply constraints, favorable macroeconomic conditions, and increasing downstream demand [2][5]. Group 1: Price Movements - The small metals sector has experienced notable price increases, particularly in tungsten, which has reached historical highs. As of December 10, black tungsten concentrate (≥65%) is priced at 363,000 yuan/ton, up 153.85% year-to-date; ammonium paratungstate (APT) is at 535,000 yuan/ton, up 153.55%; and tungsten powder is at 880 yuan/kg, up 178.48% [3][5]. - Other metals such as cobalt and tin have also seen significant price increases, with cobalt averaging 408,000 yuan/ton (up 16.91% since October) and tin rising 13.89% over the same period [3][5]. Group 2: Driving Factors - The price increases are attributed to supply-side constraints, such as strict mining quotas and environmental regulations affecting tungsten, and ongoing export restrictions on cobalt from the Democratic Republic of Congo [5]. - The macroeconomic environment is favorable, with strong expectations for a Federal Reserve interest rate cut, which typically weakens the dollar and supports commodity prices [5]. - Downstream demand from industries like new energy, semiconductors, and defense is rapidly growing, boosting expectations for strategic small metals [5]. Group 3: Capital Inflows - The small metals sector has seen significant capital inflows, with a net inflow of 1.732 billion yuan on December 10, ranking high among secondary industries [6]. - Notably, Western Materials received a net inflow of 1.274 billion yuan, with its stock achieving a strong performance in recent trading sessions [6]. - Financing net purchases in the small metals sector reached 1.879 billion yuan in December, with several stocks, including China Uranium Industry, receiving substantial net purchases [6]. Group 4: Performance Metrics - The small metals sector has shown strong performance in 2023, with a total net profit of 13.589 billion yuan in the first three quarters, reflecting a year-on-year growth of 41.42% [7]. - Companies like Shenghe Resources and Northern Rare Earth have reported significant profit increases of 748.07% and 280.27%, respectively [7]. - Shenghe Resources is expanding its production capacity, with a project expected to be operational by the end of Q1 2026 [7].

2025年12月10日稀土市场行情： 根据包头稀土产品交易所显示，今日稀土主流产品价格走势分化。氧化镨钕均价57.91万元/吨，下跌 0.26万元/吨；金属镨钕均价70.56万元/吨，下跌0.61万元/吨；氧化镝均价136.40万元/吨，上涨0.07万元/ 吨；氧化铽均价633.25万元/吨，下跌0.92万元/吨。今日询价氧化钕、氧化镨、氧化镧铈、氧化铕、氧 化钇等产品成交信息较少，请慎重参考。目前，镨钕市场延续弱稳走势，贸易商维持出货，下游维持低 价采购，同时上游现货供应偏紧，实际成交一般，商家议价僵持。中重稀土市场活跃度依旧偏低，下游 询价有限，价格保持弱稳。整体来看，稀土市场活跃度偏低，部分企业将工作重心向年末收尾转移，近 期稀土价格或保持弱稳走势。 A股市场部分稀土永磁概念股行情表现（2025年12月10日） 代码名称最新价（元）涨跌幅（%）成交额688456有研粉材51.475.362.38亿元002497雅化集团 21.974.1210.16亿元300706阿石创37.643.724.81亿元300835龙磁科技64.52.412.49亿元002738中矿资源 65.382.3815.07亿元 本 ...

证券日报网讯 12月9日晚间，中矿资源发布公告称，公司第六届董事会第二十次会议审议通过《关于募 投项目结项并将节余募集资金永久补充流动资金的议案》，同意将募投项目结项并将节余募集资金8， 396.50万元永久补充流动资金，同时在节余募集资金永久补充流动资金后，注销相关募集资金专用账 户，相关募集资金三方监管协议予以终止。 （文章来源：证券日报） ...

Group 1 - The core viewpoint of the articles indicates a positive trend in the non-ferrous metal industry, driven by expectations of monetary policy changes from the Federal Reserve, which may lead to increased prices for metals like copper and aluminum [1][2]. - As of December 10, 2025, the non-ferrous metal industry index (399395) rose by 0.74%, with significant gains in stocks such as Yunnan Zhenye (6.35%) and Guocheng Mining (6.28%) [1]. - The non-ferrous ETF fund (159880) also saw an increase of 0.34%, reflecting the overall positive sentiment in the market [1]. Group 2 - According to Guokai Securities, the refined copper market is expected to face a supply tightness in 2026, leading to a bullish outlook for copper prices, especially if the Federal Reserve implements a significant easing policy [2]. - The forecast for aluminum indicates considerable uncertainty in supply-demand balance, but financial factors may dominate, with expectations that aluminum prices could exceed $3,000 per ton in London and 23,000 yuan per ton in Shanghai in 2026 [2]. - The top ten weighted stocks in the non-ferrous metal industry index account for 52.34% of the index, highlighting the concentration of market performance among these key players [3].

方正证券承销保荐有限责任公司 关于中矿资源集团股份有限公司募投项目结项 并将节会募集资金永久补充流动资金的核查意见 方正证券承销保荐有限责任公司(以下简称"方正承销保荐"或"保荐机构") 作为中矿资源集团股份有限公司(以下简称"中矿资源"或"公司")2022年度 非公开发行股票的保荐机构,根据《上市公司募集资金监管规则》和《深圳证券 交易所上市公司自律监管指引第 1 号 -- 主板上市公司规范运作》等有关规定, 对中矿资源募投项目结项并将节余募集资金永久补充流动资金事项进行了认真、 审慎核查,具体情况如下: 一、募集资金基本情况 经中国证券监督管理委员会《关于核准中矿资源集团股份有限公司非公开发 行股票的批复》(证监许可 2022[0315]号)核准,公司采用向特定对象非公开发 行方式发行人民币普通股（A 股）47,326,076 股,发行价格为每股 63.39 元。截 至 2023 年 3 月 31 日,公司实际已向特定对象非公开发行人民币普通股 (A 股) 47,326,076 股,募集资金总额 2,999,999,957.64 元,扣除承销费、保荐费、审计 费、律师费、信息披露等发行费用(不含税)合计 ...

中矿资源集团股份有限公司 证券代码：002738 证券简称：中矿资源 公告编号：2025-053 号 中矿资源集团股份有限公司 关于募投项目结项并将节余募集资金永久补充流动资金的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 中矿资源集团股份有限公司（以下简称"公司""本公司"或"中矿资源"）于 2025 年 12 月 9 日召开第六届董事会第二十次会议，审议通过了《关于募投项目结项并将节 余募集资金永久补充流动资金的议案》。鉴于公司 2022 年度非公开发行股票募集资金 投资项目已全部建设完成并达到可使用状态，为有效发挥资金使用效率，经审议，同意 公司对募投项目结项并将节余募集资金 8,396.50 万元（实际金额以资金转出当日余额为 准）永久补充流动资金，同时在节余募集资金永久补充流动资金后，注销相关募集资金 专用账户，相关募集资金三方监管协议予以终止。 根据《上市公司募集资金监管规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》等相关规定，上述事项无需提交公司股东会审议。现将 具体情况公告如下： 公司本次募集资金扣除发行 ...

中矿资源集团股份有限公司 证券代码：002738 证券简称：中矿资源 公告编号：2025-052 号 中矿资源集团股份有限公司 第六届董事会第二十次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 1 中矿资源集团股份有限公司 引第 1 号——主板上市公司规范运作》等相关规定，该事项为公司董事会审批权 限，无需提交股东会审议。 一、董事会会议召开情况 中矿资源集团股份有限公司（以下简称"公司"或"本公司"）第六届董事 会第二十次会议于 2025 年 12 月 9 日在公司会议室以现场结合视频方式召开，会 议通知于 2025 年 12 月 5 日通过邮件及书面形式发出。本次会议应出席董事 9 名，实际出席董事 9 名（其中：董事欧学钢先生、魏云峰先生、吴志华先生、汪 芳淼先生、吴淦国先生、易冬女士以视频的方式参会，其余董事在公司会议室参 会）。本次会议由公司董事长王平卫先生主持，公司高级管理人员列席了本次会 议。本次会议的召集、召开符合《中华人民共和国公司法》和《中矿资源集团股 份有限公司章程》的有关规定，会议合法有效。 二、董事会会议审议情况 1. ...

每经AI快讯，中矿资源（SZ 002738，收盘价：65.86元）12月8日晚间发布公告称，截至本公告日，公 司及控股子公司对外提供的担保总额为人民币48.1亿元，占2024年12月31日公司经审计归属于上市公司 股东净资产的比例为39.49%；实际发生担保总额为人民币约23.16亿元，占2024年12月31日公司经审计 归属于上市公司股东净资产的比例为19.01%。 2025年1至6月份，中矿资源的营业收入构成为：锂电新能源原料开发与利用占比40.01%，稀有轻金属 （铯和铷）资源开发与利用占比21.67%，其他业务收入占比21.11%，贸易占比16.83%，固体矿产勘查 技术服务占比0.38%。 截至发稿，中矿资源市值为475亿元。 每经头条（nbdtoutiao）——处方药变"瘾品"：国内首次报告普瑞巴林滥用致成瘾病例，网络平台暴 露"无病历可购药"漏洞，列管与否尚需科学考量 （记者 王晓波） ...

中矿资源集团股份有限公司 证券代码：002738 证券简称：中矿资源 公告编号：2025-051号 中矿资源集团股份有限公司 关于全资子公司为公司提供担保的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、担保情况概述 中矿资源集团股份有限公司（以下简称"公司"或"本公司"）于 2025 年 5 月 15 日召开的 2024 年度股东会审议通过了《关于公司及子公司 2025 年度对外 担保额度预计的议案》，同意公司为合并报表范围内的各级全资及控股子公司（包 含现有及授权期新设立、收购等方式取得的纳入公司合并报表范围内的各级全资 及控股子公司）提供担保；同意合并报表范围内的全资子公司为公司提供担保。 预计 2025 年度前述担保事项累计额度最高不超过人民币 850,000.00 万元（包括 公司与子公司之间、子公司与子公司之间提供的担保金额）。其中，中矿资源（江 西）新材料有限公司（以下简称"江西中矿新材"）为本公司提供的担保额度为 人民币 490,000.00 万元。 公司拟向上海浦东发展银行股份有限公司北京分行（以下简称"浦发银行"） 申请人民币 3 ...