CNRE(SH:600111) Xin Lang Cai Jing·2025-11-21 08:03Core Insights - The price of praseodymium and neodymium oxide has risen to 555,000 yuan per ton as of November 20, with a weekly increase of 10,000 yuan and a monthly increase of 50,000 yuan, reflecting a 10% growth [1] - The domestic rare earth price is expected to continue rising due to improved demand and supply dynamics, driven by factors such as the recovery of China-US relations and strong downstream inventory replenishment [1] - The domestic rare earth industry is showing significant strategic value amid international trade tensions, with expectations for sustained high performance in the second half of the year [1] Price Performance - As of November 20, the price of praseodymium and neodymium oxide reached 555,000 yuan per ton, with a weekly increase of 10,000 yuan and a monthly increase of 50,000 yuan, indicating a 10% rise [1] - The strong demand from downstream industries is contributing to the upward price trend, with companies like Northern Rare Earth reporting full order books and good execution [1] Index Valuation - The China Securities Rare Earth Industry Index PETTM stood at 38.5 as of November 20, 2025, placing it at the 46.1% valuation percentile over the past decade, indicating a return to the long-term valuation mean [1] Industry Trends - China's rare earth industry chain is demonstrating significant strategic value in the context of international trade conflicts, with expectations for continued price increases due to improved supply-demand dynamics [1] - The supply side is expected to remain stable due to the implementation of total control measures for rare earth mining and separation, while demand is driven by sectors such as robotics, low-altitude economy, and military applications [1] - The high cost of overseas refining supports price differentials, and the U.S. acquisition base price is raising price expectations, leading to a re-evaluation of the strategic value of rare earths [1] Related Products - The E Fund Rare Earth ETF (159715) focuses on national strategic resources and global competitive industry chains, with a management and custody fee rate of 0.15% + 0.05% per year, significantly lower than similar products linked to the China Securities Rare Earth Industry Index [2] - As of October 31, 2025, the cumulative return of the E Fund Rare Earth ETF has been 76.43%, outperforming the benchmark index by 13.83%, making it a valuable tool for capturing opportunities in the rare earth industry [2]