国际能源及大宗商品价格评估机构阿格斯5月6日发布的数据显示，阿格斯99.5%含量氧化镝的欧洲月度 评估价从一个月前的250美元/公斤—310美元/公斤跃升至700美元/公斤—1000美元/公斤。99.99%含量的 氧化铽欧洲到岸价格从4月初的930美元/千克—1000美元/千克上涨到2000美元/千克—4000美元/千克。 氧化镝、氧化铽的涨幅和价位均为阿格斯2015年启动两款产品价格评估以来的历史最高值。 阿格斯有色金属分析团队负责人表示，本次上涨主要是因为上月初中国对中重稀土开始实施出口管制， 海外买家没有办法买到稀土产品，库存见底，恐慌性报价，但真正成交的并不多。 4月4日，商务部、海关总署宣布对钐、钆、铽等七类中重稀土实施出口管制。 海外稀土价格大涨 阿格斯有色金属分析团队负责人表示，因为中国4月份的稀土出口管制，切断了海外稀土供应，而海外 稀土用户库存又比较有限，有很强的补库存需求。 根据去年9月颁布的《两用物项出口管制条例》规定，相关物项企业出口需要进行物项用途和用户的申 报，一般情况下主管部门在45个工作日内审定，卖家对后期价格上涨有很高预期，选择不报价或者尽量 高报价，导致价格出现大幅上涨。 ...

Core Viewpoint - The company, Shengsheng Electronics, is facing challenges due to high initial manufacturing costs and is working to improve operational performance and market confidence while navigating uncertainties related to U.S. customer relations and tariffs [2][5]. Group 1: Company Overview - Shengsheng Electronics has commenced operations at its Hefei factory in 2025, which has led to depreciation expenses and higher initial manufacturing costs affecting performance [2]. - The company aims to enhance its operational performance and boost market confidence in its stock price [2]. - A portion of the company's revenue comes from U.S. clients, and it is currently negotiating solutions to address potential impacts from recent events [2]. Group 2: Impact of Policies - The company's operations at its Czech factory have not been affected by China's recent rare earth export restrictions [3]. - The U.S.-China tariff policies are expected to cause short-term disruptions in trade, but the company is actively discussing strategies with U.S. clients to mitigate potential impacts [5]. Group 3: Financial Performance - In Q1 2025, the company reported a main revenue of 636 million yuan, a year-on-year increase of 6.4%, while net profit attributable to shareholders was 27.33 million yuan, a decline of 53.27% [4]. - The company's gross profit margin stood at 20.62%, with a debt ratio of 49.05% [4]. - The company has implemented cost control measures that have improved operational efficiency and profitability [4]. Group 4: Market Ratings and Predictions - Over the past 90 days, four institutions have rated the stock as a buy, with an average target price of 38.76 yuan [6]. - Detailed earnings forecasts indicate projected net profits of 233 million yuan for 2025, increasing to 304 million yuan in 2026 and 359 million yuan in 2027 [8].

2025.05.06 导读 ： 稀土金属价格达到创纪录高位；五一档票房破7亿 ；解锁【第一财经智享会员】实时解读市场 动态，把握投资先机。 【第一财经智享会员专属】 【 今 日 速 读 】 精选行业研报，助您捕捉行业风口 【精选快读】 据媒体报道，自中国4月4日宣布对7类中重稀土相关物项实施出口管制后，稀土金属价格在数周内达到了 创纪录的高位。 截至5月1日，欧洲镝价已自4月初以来上涨两倍，达到8 5 0美元/公斤；铽价从9 6 5美元/公斤上涨至3 0 0 0美 元/公斤，累计涨幅超2 1 0 %。根据可追溯至2 0 1 5年5月的数据，两者均录得最大月度涨幅和最高价格。 招商证券表示，中国稀土实施出口管制后短期海外将面临抢单，造成海外稀土价格大涨。反观国内，稀土 深加工企业迎来发展机遇。因加工后的部分稀土产品不在此次出口管制范围内，企业利润空间得以拓展， 进而推动国内稀土价格上升。未来国内外稀土中枢价格将上移，短期预计海外稀土价格将高于国内，中期 价格有望收敛，整体中枢价格持续上移。 中信建投认为，稀土磁材用量将远超新能源汽车需求，远景空间非常广阔。当前稀土板块攻守兼备，建议 积极关注。 相关标的： * ...

A股稀土永磁概念股持续走强，其中，华阳新材录得4天3板，盛和资源涨停，广晟有色、银河磁体涨超7%，北方稀土涨6%，中国稀土涨超 5%。 截至发稿，稀土ETF易方达涨超4%；嘉实稀土ETF基金、富国稀土ETF、华泰柏瑞稀土ETF涨超3.8%。 目前市场上有4只稀土ETF，其中稀土ETF基金 最新规模16.21亿元，位居同类第一。 | | 序号 代码 类型 名称 | 涨跌幅 ▼ | 年初至今 | 估算规模 管理公司 | | --- | --- | --- | --- | --- | | 1 | 159715 主 稀土ETF易方达 | 4.08% | 7.36% | 1.92亿 易方达基金 | | 2 | 516150 主 稀土ETF基金 | 3.89% | 6.42% | 16.26亿 嘉实基金 | | 3 | 159713 主 稀土ETF | 3.85% | 6.97% | 3.12亿 富国基金 | | 4 | 516780 主 稀土ETF | 3.84% | 6.57% | 8.71亿 华泰柏瑞基金 | 稀土ETF紧密跟踪中证稀土产业指数，该指数选取涉及稀土开采、稀土加工、稀土贸易和稀土应用等业务相关上市公司 ...

Group 1 - The recent announcement by the Chinese government to impose export controls on seven types of medium and heavy rare earth elements has led to a significant surge in rare earth prices globally [1][3] - By May 1, the price of dysprosium in the European market skyrocketed from $283 per kilogram in early April to $850, marking a 200% increase, while terbium prices surged from $965 to $3000, a rise of over 210% [3] - China dominates the global rare earth supply, particularly for the seven types of rare earths affected by the export restrictions, which are critical for various high-tech industries including electric vehicles, wind power, aerospace, and military applications [5] Group 2 - The export control policy aims to protect China's non-renewable rare earth resources and promote the domestic rare earth industry towards higher-end and more environmentally friendly development [7] - The rising prices of rare earths are expected to create significant cost pressures on industries reliant on these materials, particularly the electric vehicle sector, which may face increased motor costs and potential production halts [9] - The U.S. military industry is also at risk, as over 1900 U.S. weapon systems depend on rare earth supplies from China, with specific examples like the F-35 fighter jet requiring 417 kilograms of rare earth materials for critical components [10] Group 3 - The domestic rare earth industry in China is experiencing a positive impact from the export controls, with companies like Northern Rare Earth achieving a revenue of 9.287 billion yuan in Q1 2025, a year-on-year increase of 61.19%, and a net profit of 431 million yuan, up 727.30% [12] - China Rare Earth Group has turned around from a loss of 290 million yuan last year to a profit of 72.61 million yuan this year, indicating a significant recovery and growth in the domestic market [12]

Core Viewpoint - Following China's announcement of export controls on seven categories of medium and heavy rare earth elements, prices of rare earth metals have surged to record highs, with significant increases observed in Europe [1] Price Movements - As of May 1, the price of dysprosium in Europe has doubled since early April, reaching $850 per kilogram [1] - The price of terbium has skyrocketed from $965 per kilogram to $3000 per kilogram, reflecting a cumulative increase of over 210% [1] Strategic Importance - Rare earth metals, often referred to as "industrial vitamins," are critical non-renewable strategic resources widely used in various sectors including renewable energy, new materials, energy conservation, aerospace, military, and electronic information [1] Supply Dynamics - The seven elements subject to export restrictions are classified as rarer medium and heavy rare earths, with the majority of global supply sourced from China [1] - Analysts predict that the export restrictions will lead to a certain degree of rare earth shortages in overseas markets, with expectations of rising domestic and international rare earth prices [1] Price Forecast - Short-term expectations indicate that overseas rare earth prices will exceed domestic prices, while mid-term prices are anticipated to converge, with an overall upward trend in the central price [1]

5月3日消息，自中国宣布对7类稀土相关物项实施出口管制后，欧洲镝价已上涨两倍，达到每公斤850美元（约6180.6元人民币），铽价则从每公斤965美 元上涨至3000美元。原本稀土就是战略物资，以后白菜价格真不能再卖了，因为卖一点少一点，几十年后稀土稀缺了甚至用完了，千金难买就欲哭无泪 了。稀土价格虽然翻倍上涨，但依然没有达到它的应有价位，在现有价格上涨五十倍甚至一百倍才是它的应有价值。希望国家加强管控，特别是打击走 私，还稀土的本来面目。 想想以前的碳纤维等，只要我们造不出的国外就是天价卖给你。而我们稀有的东西，由于内卷却变成白菜价，国家真的需要更加觉醒。反正和美国已经脱 钩了，涨个100倍干它千万不要客气，在对方替代之前狠狠涨，对美国限量供应。据说稀土开采、提炼都是毁坏环境高污染的行业，美帝、西方国家一是 不愿干这脏活，二来人家环境保护比较严格，所以这个行业也只有发展中国家全产业链来干了，正因为如此中国的稀土产业链比较完整齐全技术有优势成 本低！ 提炼稀土需要大量电力，有些是铝土矿伴生，也就是冶炼几百吨铝才出几十克稀土，美国不可能为了一点稀土大干电解铝，有了铝美国又没能力消化怎么 弄？所以说目前提炼技术精 ...

资料图 用于高性能磁体的镝和铽的价格在一个月内涨至3倍，均创出历史最高价。中国4月初对7类中重稀土启 动了出口限制措施。一方面，美国已与乌克兰签署资源开发协议，计划展开包括稀土在内的资源开 发…… 中国政府于4月4日宣布，对铽、镝等7种稀土实施出口管制。Argus Media分析："预计这些稀土在管制 发布后几乎立即停止出口"。 稀土即使少量添加，也有望显著提升材料性能，因此广泛用于纯电动汽车和风力发电的电机、航空航天 等高端制造领域，被形容为"工业的维生素"。稀土分为轻稀土和中重稀土，此次被管制的7种属于产量 稀少的中重稀土。这类稀土的开采高度依赖中国，中国在该领域拥有压倒性的存在感。 日本瑞穗银行产业调查部高级分析师佐藤多嘉大指出："这次被限制的稀土，在其他国家实施替代性生 产的难度非常高"。中重稀土价格暴涨直接导致用于纯电动汽车等产品的电机成本上升。东京大学的冈 部彻教授说："若供应受限长期化，电动汽车本身可能面临无法制造的风险"，类似这样的担忧也在浮 现。 版权声明：日本经济新闻社版权所有，未经授权不得转载或部分复制，违者必究。 日经中文网 https://cn.nikkei.com 对于纯电动汽车（ ...

Group 1 - China's announcement on April 4 to impose export controls on seven categories of medium and heavy rare earth elements has led to record-high prices for rare earth metals within weeks [1][3] - As of May 1, the price of dysprosium in Europe has doubled since early April, reaching $850 per kilogram (approximately 6180.6 RMB), while the price of terbium surged from $965 per kilogram (approximately 7016.9 RMB) to $3000 per kilogram (approximately 21814.1 RMB) [1][3] - The price increases for rare earth metals are the largest monthly gains and highest prices recorded since May 2015 [1][3] Group 2 - Over 90% of refined rare earth elements globally come from China, highlighting the country's dominance in this sector [3] - The export controls are viewed as a response to the Trump administration's imposition of "reciprocal tariffs" on China [3] - Rare earth metals are critical for manufacturing advanced products such as electric vehicles, wind turbine motors, and aircraft, with the restricted elements classified as rarer medium and heavy rare earths [3] - Analysts indicate that it is challenging to substitute the restricted rare earth materials with those produced in other countries, which could impact the cost of electric motors used in electric vehicles and other products [3]

更关键的是控制系统。稀土基传感器能够以毫秒级的响应速度捕捉运动部件的空间位置、速度及加速度变化，并将这些数据实时反馈给中央处理器。正是这 种近乎完美的闭环控制，才赋予了"擎天柱"类人般的协调性和稳定性。 今年4月4日，中国商务部的一纸公告在全球市场掀起轩然大波。对钐、钆、铽等7类中重稀土的出口管制措施，不仅是一纸行政命令，更是一份战略宣言。 官方明确表示，这是为了"维护国家安全和利益，履行防扩散等国际义务"，但背后的战略考量显然更为深远。 中国在全球稀土供应链中的地位堪称"定海神针"。数据显示，中国稀土储量占全球三分之一以上，却供应着全球90%以上的市场需求。这种不对称的供需关 系，使得中国的每一个政策调整都会在国际市场引发连锁反应。 值得注意的是，这次管制并非无差别打击。中国采取了精准的"外科手术式"管控，重点针对可能用于军事用途的中重稀土。韩国媒体曝光的商务部信函显 示，中方特别要求韩企不得将含中国稀土的产品转售美国军工企业。这种有的放矢的做法，既维护了正常的国际贸易秩序，又有效防范了战略资源的外流风 险。 据央视新闻报道，特斯拉CEO埃隆·马斯克公开表示，中国对稀土的出口管制已经严重影响了人形机器人"擎 ...