智通财经网·2025-08-24 23:41Core Viewpoint - The implementation of the "Interim Measures for Total Quantity Control Management of Rare Earth Mining and Rare Earth Smelting Separation" is expected to significantly constrain the supply side of rare earth smelting and separation, leading to a revaluation of smelting assets and further catalyzing the rare earth sector's performance [1][2][3] Supply Constraints - The new management measures specify that only enterprises designated by the Ministry of Industry and Information Technology and the Ministry of Natural Resources are allowed to conduct smelting and separation, incorporating imported ore into regulation [3] - The shift from "two major groups" to "designated enterprises" indicates that private smelting and separation companies may face significant constraints, potentially leading to the exit of some small and medium-sized enterprises from the market [3] Profitability and Asset Revaluation - Smelting processing fees have increased significantly, with the processing fee for heavy rare earth ore rising from 0.15 million yuan/ton to 1.35 million yuan/ton since early August [3] - The estimated theoretical net profit for smelting and separation per ton has increased to approximately 14,000 yuan, up nearly 20,000 yuan from the beginning of the year [3] Price Dynamics - As the peak season for new energy vehicles approaches, strong replenishment demand from domestic and international companies is driving a rapid increase in rare earth prices [4] - The new management measures are expected to have a strong catalytic effect on both supply and market sentiment, maintaining strong upward momentum for rare earth prices [4]