中信证券：供需格局持续偏紧 稀土价格有望企稳回升

Core Viewpoint - The strategic importance of rare earth resources is highlighted by recent export control policies issued by the Ministry of Commerce in conjunction with the General Administration of Customs, indicating a tightening supply amid declining imports [1] Group 1: Policy and Supply Dynamics - Multiple export control policies have been released, emphasizing the strategic nature of rare earth resources [1] - The combination of regulatory constraints and a decline in imports has led to a sustained rigidity in rare earth supply [1] Group 2: Demand and Price Support - Demand for rare earth elements is expected to continue rising, driven by sectors such as electric vehicles, consumer electronics, variable frequency air conditioning, and wind power [1] - Emerging fields like robotics, low-altitude economy, and industrial motors are anticipated to open up long-term growth opportunities for demand [1] - The supply-demand dynamics in the rare earth industry are expected to reach a turning point, providing strong support for rare earth prices [1] Group 3: Investment Recommendation - Continuous recommendation for strategic allocation in the rare earth industry chain due to the favorable supply-demand outlook [1]