TMD(SZ:000762) Xin Lang Cai Jing·2025-11-06 05:38Core Insights - The China Rare Metals Theme Index has seen a strong increase of 1.89%, with significant gains in constituent stocks such as Tibet Mining (+7.98%), Yunnan Zhenye (+6.13%), and Ganfeng Lithium (+4.12%) [1] - The Rare Metals ETF (562800) rose by 1.77%, with intraday gains exceeding 2% [1] Market Performance - The Rare Metals ETF had a turnover rate of 2.61% during the trading session, with a transaction volume of 99.67 million yuan [3] - Over the past month, the ETF has averaged a daily transaction volume of 322 million yuan, ranking first among comparable funds [3] - The ETF's scale has increased by 2.549 billion yuan over the past three months, marking significant growth and leading among comparable funds [3] - The ETF's share count has grown by 1.399 billion shares in the last month, also ranking first among comparable funds [3] - The latest net inflow for the ETF is 27.836 million yuan, with a total of 1.182 billion yuan attracted over the last 20 trading days [3] - As of November 5, the ETF's net value has increased by 6.18% over the past three years [3] - The ETF has recorded a maximum monthly return of 24.02% since its inception, with the longest consecutive monthly gain being six months and a total increase of 80.09% [3] Industry Dynamics - The Democratic Republic of Congo has implemented a cobalt export quota policy, with quotas set at 18,125 tons for 2025 and 96,600 tons for 2026 and 2027, which is less than half of the 2024 production [4] - This export limitation is expected to lead to a continuous depletion of cobalt resources, potentially resulting in supply shortages and driving up cobalt prices [4] - Companies with upstream resource advantages are anticipated to benefit significantly from this trend, according to Huazheng Securities [4] - China has established a dominant global position in rare metals such as rare earths, tungsten, antimony, gallium, germanium, indium, bismuth, vanadium, and magnesium [4][5] - China's rare earth reserves account for 37% of the global total, with monopolistic smelting technology; tungsten reserves account for 68% and production for 83%; antimony reserves account for 25% and production for 48%; gallium reserves account for 68% and production is globally leading; germanium reserves account for 40% and production for 83%; indium reserves account for 81% and production for 68% [5] - The stable control over rare metals enables effective resistance against external supply shocks, reinforcing the security of the industry chain [5] Key Stocks - The top ten weighted stocks in the China Rare Metals Theme Index include Northern Rare Earth, Luoyang Molybdenum, Huayou Cobalt, Salt Lake Industry, Ganfeng Lithium, Tianqi Lithium, Zhongmin Resources, China Rare Earth, Western Superconducting, and Xiamen Tungsten, collectively accounting for 60% of the index [3] - Notable stock performances include Northern Rare Earth (+0.29%), Luoyang Molybdenum (+3.79%), and Huayou Cobalt (+3.28%) [7] - Investors can also participate in the rare metals sector through the Rare Metals ETF linked fund (014111) [7]