从“白菜价”到主动提价，国内稀土巨头再涨价，中国底气越来越足

Core Viewpoint - The pricing dynamics of China's rare earths are shifting, with recent price increases indicating a move towards greater pricing power and stability in the market [1][3][4]. Group 1: Price Increases and Market Dynamics - China's leading rare earth companies, Northern Rare Earth and Baotou Steel, have announced a price increase for rare earth concentrates, with a 2.4% rise to 26,834 yuan/ton, marking the sixth consecutive increase since Q3 2024 [1][4]. - The price of key products like praseodymium and neodymium oxides has also risen, with average prices reaching around 630,000 yuan/ton, reflecting a broader acceptance of higher prices in the market [4][6]. - The price increases are not random but are indicative of a structural change in the industry, moving from a "sell more at a loss" model to one of "orderly price increases and stable profits" [6][12]. Group 2: Supply and Demand Factors - Global supply of rare earths has not kept pace with demand, leading to a supply-demand imbalance, particularly in high-performance applications such as electric vehicles and wind power [12][14]. - The demand for rare earths is accelerating due to emerging sectors like high-end robotics and smart manufacturing, which rely heavily on high-performance rare earth materials [12][14]. - China's competitive advantage lies not only in its resource availability but also in its capabilities in separation, smelting, and processing, which are critical for the rare earth supply chain [14][16]. Group 3: Impact of U.S. Policies - U.S. government actions, including investments in domestic rare earth companies and setting minimum purchase prices, have raised global expectations for rare earth pricing, signaling the strategic value of these resources [7][9]. - Despite U.S. interventions, the price increases in China were initiated prior to these policies, driven primarily by domestic supply-demand dynamics [11][12]. - The perception of rare earths has shifted, with buyers now concerned about availability and pricing, indicating a change in negotiation dynamics [9][11]. Group 4: Long-term Outlook - The current price adjustments reflect a maturation of the industry, moving away from a history of low pricing towards a more rational and strategic pricing model [16]. - The long-term view suggests that rare earths are evolving from mere commodities to strategically significant resources, necessitating careful management and pricing strategies [14][16].