哪些战略资源品更具投资价值？

Core Conclusions - Some resource products already possess strategic attributes, with resource-rich countries seeking pricing power in the industrial chain and a growing trend of resource nationalism, while consuming countries enhance strategic reserves of key resources and strengthen supply chain security [1][2] - The scarcity of strategic resource reserves, along with the high concentration of production and processing stages, forms the basis for industrial and national defense security, and is crucial for energy transition and technological development [1][3] - The market for strategic resources is driven not only by short-term shocks but also by long-term supply-demand dynamics that support price increases, with mid-term trends expected to continue upward [1][4] Strategic Attributes of Resource Products - Since 2025, prices of copper, aluminum, lithium, and cobalt have significantly increased in the global commodity market, driven by supply-demand factors and the growing concept of national security, leading to intensified competition and geopolitical struggles over strategic minerals [2][13] - Resource-rich countries are changing their policy directions, increasingly adopting resource nationalism through export controls, tax increases, and nationalization to gain more economic benefits and move up the value chain [2][15] - Major consuming countries like the US, EU, and Japan are incorporating resource security into their national and economic security frameworks, establishing strategic reserves and creating new supply chain systems through alliances [2][18] Definition of Strategic Resource Products - Strategic resource products are characterized by their scarcity, with uneven global distribution and concentration in a few countries, and long production cycles that result in slow supply growth, highlighting their importance in great power competition [3][23] - The stability of strategic resource supply is fundamental to industrial and national defense security, as high-end manufacturing and defense technologies rely heavily on the performance and stable supply of key materials [36][37] Supply-Demand Dynamics Driving Price Trends - The current market for strategic resources has seen significant returns, particularly in heavy asset and low-elimination sectors, although recent volatility has raised concerns about the sustainability of this trend [4][41] - Long-term capital expenditure shortages, rising resource nationalism, and increasing operational risks are constraining the supply of strategic resources, with exploration investments declining for two consecutive years [41][43] - The demand for strategic resources is being shaped by trends in AI and new energy industries, with significant growth expected in the demand for copper, aluminum, lithium, and cobalt [47][48]