有色金属：工信部拟出台稀土开采新规，稀土价格或开启新一轮上涨

Industry Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [1]. Core Viewpoints - The Ministry of Industry and Information Technology (MIIT) is drafting new regulations for rare earth mining, which may lead to a new round of price increases for rare earth products [4]. - The demand for humanoid and quadruped robots is expected to accelerate, with a projected compound annual growth rate (CAGR) of 11.56% for neodymium-iron-boron in the robotics sector from 2025 to 2030 [6][19]. Summary by Relevant Sections Industry Overview - The closing index is at 4593.64, with a 52-week high of 4979.91 and a low of 3700.9 [1]. Rare Earth Regulations - On February 19, the MIIT proposed new management measures for rare earth mining and smelting, which will include imported rare earth ores in regulatory oversight [4][8]. - In 2024, China imported 132,900 tons of rare earth oxides, with significant impacts expected on local private enterprises' smelting capacities due to the new regulations [5][10]. Supply Chain Disruptions - Ongoing conflicts in Myanmar have led to a steady increase in rare earth prices, with prices for praseodymium-neodymium oxide and dysprosium oxide rising by 10.56% and 6.38%, respectively [5][15]. - The import of rare earth minerals from Myanmar has significantly declined, with only 300 tons imported in December 2024, marking a 92% year-on-year decrease [11][15]. Robotics Market Growth - The Chinese government is actively promoting the development of the robotics industry, with policies aimed at fostering innovation in humanoid robots [18]. - The demand for neodymium-iron-boron in humanoid and quadruped robots is expected to grow at rates of 56.88% and 82.94%, respectively [19]. Investment Recommendations - Companies to watch include China Rare Earth, Northern Rare Earth, Shenghe Resources, Jinchuan Group, and others [6].