中信证券：持续推荐稀土产业链战略配置价值

Core Viewpoint - The strategic importance of rare earth resources is highlighted by recent export control policies issued by the Ministry of Commerce and the General Administration of Customs, indicating a tightening supply amid declining imports, which supports rare earth prices [1] Policy Impact - Multiple export control policies have been released, emphasizing the strategic nature of rare earth resources [1] - The combination of regulatory constraints and a decrease in imports is leading to a sustained increase in the rigidity of rare earth supply [1] Demand Dynamics - Demand for rare earths is expected to continue rising, driven by sectors such as electric vehicles, consumer electronics, variable frequency air conditioners, 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] Industry Outlook - The supply-demand landscape of the rare earth industry is expected to reach a turning point, with a strong recommendation for strategic allocation within the rare earth industry chain [1]