Group 1 - The core viewpoint is that both light and heavy rare earths are expected to see price increases in the future, with supply tightening and demand maintaining a growth trend [1] - The Chinese government has implemented four rounds of export controls on strategic metal resources in 2023, indicating an increasing focus on these resources [1][2] - The report suggests monitoring four companies primarily engaged in rare earth production: Guangxi Youse (600259), Shenghe Resources (600392), China Rare Earth (000831), and Northern Rare Earth (600111) [1] Group 2 - Light rare earth supply is expected to be limited due to the lack of publicly available mining quota information from the Ministry of Industry and Information Technology [3] - The demand for light rare earths is projected to grow, particularly in key sectors such as new energy vehicles and wind power, with significant year-on-year increases in production [4] - China dominates global rare earth smelting and separation capacity, holding approximately 88.56% of the total capacity, although this share is expected to decline in the coming years as other countries increase their capacities [4]
光大证券:稀土行业对价利好频出 建议关注广晟有色等