我国对出口稀土严控之后，五角大楼马上让采购10亿美元关键矿产

Core Points - The Chinese Ministry of Commerce announced stricter controls on rare earth exports, effective from November 8, 2025, targeting heavy and medium rare earth elements, including five newly added elements: holmium, erbium, thulium, europium, and ytterbium [1] - The announcement is part of a broader trend of increasing export restrictions on rare earth products, which began in 2023 and 2024, with previous measures including export licensing for gallium and germanium [1][3] - The U.S. Department of Defense plans to spend up to $1 billion on critical minerals, including rare earth metals, to establish strategic reserves and mitigate supply chain risks, with a focus on domestic and allied sources [3][5] Group 1: Chinese Export Controls - The new export controls require companies to report end-users and specific applications for rare earth elements, affecting industries reliant on these materials [1] - The measures are framed as necessary for national security and are not outright bans, but rather enhanced management of exports [1][7] - The controls apply to both Chinese and foreign companies, requiring approval for products containing over 0.1% Chinese rare earths [3] Group 2: U.S. Response and Procurement Plans - The U.S. Defense Logistics Agency's procurement plan emphasizes the importance of heavy and medium rare earths for defense applications, including the F-35 fighter jet [4][5] - The procurement plan follows previous investments by the U.S. Department of Defense in rare earth processing facilities, indicating a long-term strategy to diversify supply chains away from China [5][8] - Following the announcement of the procurement plan, U.S. rare earth companies saw stock price increases, reflecting investor optimism about domestic production stimulation [5] Group 3: Market Implications - The tightening of export controls by China has led to increased global price volatility for rare earths and related materials, with significant price increases observed in 2024 [7] - The U.S. government's focus on building strategic reserves and enhancing domestic production capabilities is a direct response to China's dominant position in the rare earth market, where China accounts for 61% of global mining output and over 90% of processing [1][7] - The competitive dynamics between China and the U.S. in the critical minerals sector are intensifying, with both countries implementing measures to secure their supply chains [7]