中国严控稀土出口后，曾有国人偷3834吨稀土到美国，却被美企举报

Core Viewpoint - In late 2024, China implemented strict export controls on rare earths, significantly impacting the global supply chain, particularly for the U.S. market, leading to a surge in illegal smuggling activities by U.S. companies themselves [1][2][3] Group 1: Policy Impact - China's new export control policy prohibits the export of rare earths for military use to the U.S. and requires permits for other types, marking an upgrade in China's control over the global rare earth industry [1][10] - Following the policy's implementation, rare earth prices in the U.S. skyrocketed by over 230%, prompting illegal smuggling activities [3][10] Group 2: Smuggling Dynamics - Smuggling operations often disguise rare earths within ordinary goods, making detection difficult, with illegal rare earths priced nearly 50% lower than legal ones, attracting U.S. companies to the underground market [3][5] - U.S. rare earth companies, facing market share erosion due to smuggling, began to self-fund evidence collection against smugglers, realizing that only intervention from the Chinese government could effectively address the issue [5][6] Group 3: Corporate Responses - Some U.S. companies chose to report smuggling activities to protect their market interests, with examples like MP Materials focusing on reporting rather than expanding production capacity [8][14] - The actions of U.S. companies in reporting smuggling have led to increased market share and stock price boosts for those involved, indicating a strategic shift towards legal compliance [8][14] Group 4: Regulatory Measures - China has initiated a series of strong measures against rare earth smuggling, including the use of nano-level electronic tags for traceability and a comprehensive regulatory framework from extraction to application [10][11] - The revised Mineral Resources Law in 2025 increased penalties for smuggling, with severe consequences for significant offenses, reflecting China's commitment to controlling the rare earth supply chain [11][14] Group 5: Global Competition - The rare earth industry is characterized by a complex interplay of global resource governance, technological competition, and national interests, with control over the supply chain being crucial for competitive advantage [13][14] - China's response to the smuggling issue highlights its role as a rule-maker in the global rare earth market, emphasizing the importance of sustainable and compliant industry practices for long-term success [14]