钨精矿再创历史新高，氧化镨钕高位震荡整理

Group 1: Rare Earths - Recent price movements show a 4.18% decrease in praseodymium and neodymium oxide to 572,500 CNY/ton, while dysprosium oxide increased by 0.62% to 1,625,000 CNY/ton, and terbium oxide rose by 1.41% to 7,175,000 CNY/ton [1][2] - The Pentagon has agreed to invest $400 million in MPMaterials, becoming its largest shareholder, and set a procurement price of $110 per kilogram for the two most commonly used rare earths, neodymium and praseodymium [1][2] - MPMaterials has announced a $500 million partnership with Apple to supply critical raw materials for its electronic products [1][2] - Supply-side signals indicate tightening at low-priced mines, while demand is characterized by a wait-and-see attitude, leading companies to focus on inventory consumption [2] Group 2: Molybdenum - Molybdenum concentrate prices increased by 0.22% to 4,515 CNY/ton, while molybdenum iron (Mo60) prices decreased by 0.69% to 287,500 CNY/ton [3] - Supply-side signals indicate a gradual contraction in molybdenum concentrate, while demand is stimulated by ongoing steel procurement [3] Group 3: Tungsten - Black tungsten concentrate prices rose by 13.60% to 284,000 CNY/ton, and ammonium paratungstate prices increased by 12.16% to 415,000 CNY/ton [3] - Supply-side constraints due to reduced mining quotas and stable domestic demand are supporting tungsten prices [3] Group 4: Tin - SHFE tin prices fell by 1.69% to 274,000 CNY/ton, and LME tin prices decreased by 2.14% to $34,800/ton [4] - Supply-side issues due to low operating rates in Yunnan's refining tin smelting enterprises are leading to tight spot supply [4] Group 5: Antimony - Antimony ingot prices remained stable at 182,500 CNY/ton, while antimony concentrate prices held steady at 160,000 CNY/ton [4] - Supply-side constraints from overseas mines and low operating rates in smelting plants are affecting the market [4] Group 6: Nuclear Fusion Materials - The commercialization of controlled nuclear fusion is accelerating, with significant breakthroughs in welding technology recognized internationally [5] - CFS has raised $863 million in its latest funding round, with plans to deploy a nuclear fusion reactor in Japan by the late 2030s or early 2040s [5] - The industry is experiencing high growth potential, with upstream materials expected to benefit significantly [5]