中国此次稀有金属管制，为何影响更甚以往？

Core Viewpoint - China has significantly increased its export controls on rare metals such as tungsten, tellurium, bismuth, molybdenum, and indium, leading to rising prices and supply concerns in the global market [1][2][3] Group 1: Export Controls and Market Impact - On February 4, China announced immediate export controls on several rare metals, which has resulted in a noticeable price increase for bismuth [1] - The export controls are part of China's broader strategy to manage its rare metal resources, with immediate implementation rather than a buffer period, intensifying supply concerns [1] - The U.S. government has responded by imposing a 10% tariff on all imports from China, which is perceived as a countermeasure to China's export restrictions [1] Group 2: Specific Metals and Price Changes - Tungsten, used in superhard tools, is also affected by the new export controls, particularly ammonium paratungstate (APT), which has seen an 8% price increase in Europe [2] - The price of APT in Europe is approximately $365 per 10 kilograms as of March 6, indicating a shift in sourcing strategies among European companies [2] - The tungsten industry is actively seeking to reduce dependence on China, with the U.S. planning to impose a 25% tariff on Chinese tungsten starting January 2025 [2] Group 3: Broader Implications and Future Outlook - Since 2023, China has been tightening export controls on various rare metals, including gallium and germanium, with antimony also being added to the list in September 2024 [3] - The price of antimony in Europe has surged to 2.2 times its pre-control level, reflecting significant supply concerns due to reduced Chinese exports [3] - Japan has been particularly affected, with zero antimony exports from China in the last quarter of 2024, raising questions about the sustainability of future export licenses [3]