锂、稀土、钴价表现坚挺，稀有金属ETF(562800)有望持续受益

Group 1 - The rare metals sector experienced a downward fluctuation, with the China Rare Metals Theme Index dropping by 1.57% as of 10:44 AM on December 2, 2025 [1] - In the new energy vehicle materials sector, the price of electric carbon reached 92,100 yuan per ton, marking a 4.3% increase and the highest level in nearly 16 months. Meanwhile, the price of praseodymium and neodymium oxide was reported at 566.92 yuan per kilogram, up 3.4%, also at a 19-month high [1] - Supply constraints and recovering demand are driving the prices of key materials like lithium and rare earths, leading to a significant rebound in industry prosperity [1] Group 2 - Cobalt raw material exports from the Democratic Republic of the Congo are progressing slower than expected, maintaining a structural tightness in supply. Despite the implementation of a cobalt export quota system in October, the licensing process remains incomplete, causing delays in the shipment of intermediate products [1] - It is anticipated that domestic raw materials will not arrive until the first quarter of 2026, and the tight supply of cobalt raw materials is expected to support prices, coupled with active downstream procurement [1] - As of November 28, 2025, the top ten weighted stocks in the China Rare Metals Theme Index accounted for 59.05% of the index, including companies like Luoyang Molybdenum, Northern Rare Earth, and Ganfeng Lithium [1] Group 3 - The Rare Metals ETF (562800) tracks the China Rare Metals Theme Index, serving as a convenient tool for investing in the rare metals sector [2] - Investors can also explore investment opportunities in the rare metals sector through the Rare Metals ETF linked fund (014111) [3]