进一步上涨。7 月北方稀土金属竞价销售结果显示报顶价全部成交，反 映市场情绪。 行业对价利好频出，稀土企业有望受益 20250815 摘要 2025 年包钢稀土精矿产量预计增加 3.4%，远低于新能源汽车（上半年 产量同比增长 40.61%，渗透率 44.13%）和风电（新增装机容量同比 翻倍）的需求增速，轻稀土供需矛盾推动 7 月价格上涨。 中国在全球中重稀土冶炼分离产能中占比高达 89%，预计 2029 年降至 64%，因海外产能增加且国内暂无新增。中国多次实施战略金属出口管 制，提升了对战略金属资源的重视程度，并引发产品价格上涨。 中重稀土主要应用于磁性材料，钐、镝和铽元素至关重要。中国对镝和 铽相关物质实施出口管制，限制了整体磁材出口，预计政策落地后 3-6 个月内，中重稀土价格将随出口恢复而迎来趋势性上涨。 白云鄂博稀土矿的中重稀土含量较低（1.2%），无法满足中重稀土元素 的需求。丰富的中重稀土资源主要分布在中国南方及东南亚地区，这些 地区具备成熟的开采技术。 缅甸克钦邦宣布到期停止稀土开采许可证，扰动了全球稀土供应稳定性， 尤其是对中国以外重要的离子型稀土矿供应地产生影响。 北方稀土公布的价格持 ...

求锤得锤！中国稀土"新规矩"一出，欧美彻底慌了：不给就真断供啊？ 想当年的委屈 现在该算账了 说起来真是一把辛酸泪啊！上世纪90年代的时候 咱们为了换取外汇 把稀土当白菜一样便宜卖给欧美。结果呢？人家拿着咱们 的稀土造出高端产品 再高价卖回给我们！更过分的是 当我们想发展自己的高科技产业时 他们立马对我们技术封锁 设备禁运！ 那时候真是有苦说不出 有资源却造不出好东西。 求锤得锤！中国稀土"新规矩"一出 欧美彻底慌了：不给就真断供啊？ 大家好啊 我是老陈。前几天看到一个让人拍手叫好的消息 中国对稀土出口搞了个新规矩 结果欧美那边彻底坐不住了！说真的 看到他们急得跳脚的样子 老陈心里别提多爽了。想当年他们卡我们脖子的时候 可没少让咱们受委屈啊！ 稀土到底有多重要？欧美为啥这么慌 咱们先说说稀土这玩意儿到底有多厉害。别看它们在地球上叫稀土 其实一点都不稀有 关键是提炼难度大得很。从手机芯片到 导弹制导 从风力发电到电动汽车 哪样都离不开稀土！特别是那些高端武器装备 没有稀土就是一堆废铁。而全世界超过70%的 稀土都在咱们中国手里 这就是咱们的底气所在！ 中国人的脾气你们还不了解？ 中国人是什么脾气？你越欺负我 我 ...

泰国和墨西哥的稀土进口量突增，尤其是考虑到两国国内的稀土加工能力有限，这一行为显得尤为可 疑。据报道，泰国的稀土加工企业数量有限且条件简陋，而墨西哥的唯一稀土工厂也一度停工。然而， 这些国家却频繁向美国输送大量稀土，明显违反了正常的贸易规则，对国际市场造成了严重干扰。 近期，美国在稀土资源获取上的行动引发了广泛关注。特别是在中国实施稀土出口管制，特别是针对美 国的限制措施后，美国的应对策略显得尤为引人注目。据报道，尽管面临严格的出口控制，美国仍设法 在短时间内，通过某些不为人知的途径，成功地从中国运出了高达4000吨的稀土资源。这一数量惊人， 相当于美国过去三年进口总量的35倍。 针对这一系列事件，中国已采取强有力的反制措施。不仅加强了稀土出口的监管力度，还引入了独立的 识别码制度，确保每一公斤稀土都能被追踪和识别。同时，中国对涉嫌走私的企业和个人进行了严厉惩 处，以儆效尤。中国还将对泰国和墨西哥的稀土进口行为进行更加细致的审查，以防范类似事件再次发 生。 这一大规模稀土转运的背后，涉嫌存在内部人员协助的情况。两名"内鬼"的身份虽然尚未公开，但他们 的行为无疑为美国的稀土获取计划打开了方便之门。面对如此严重的 ...

Core Viewpoint - China is implementing stricter controls on rare earth exports, emphasizing its dominant position in the supply chain while addressing concerns from Western countries about potential threats to defense industries [1][6]. Group 1: Export Control Measures - China is tightening regulations on foreign companies hoarding rare earths, warning that large-scale stockpiling could lead to supply issues [1]. - A new export licensing system for critical minerals and rare earth magnets is being established, with a focus on expediting approvals for compliant applications [3]. - The approval process for export applications is thorough, with significant scrutiny on large orders to prevent potential hoarding [1][5]. Group 2: Impact on Western Companies - Many Western companies are relocating production lines to China to circumvent export restrictions, as seen with Regal Rexnord, which is assembling rare earth magnets in China to ease export difficulties [5]. - In June, China's exports of rare earth magnets to the U.S. surged to 352.8 tons, a 660% increase from May, indicating a recovery in supply following trade negotiations [5]. - Overall, China's rare earth magnet exports in June reached 3,188 tons, a 157.5% increase from May, although still down 38.1% compared to the same period in 2024 [5]. Group 3: China's Position and Intentions - China asserts that its export controls are in line with international practices and aim to maintain national security while facilitating compliant trade [6]. - The Chinese government emphasizes that the goal is to regulate rather than prohibit exports, promoting sustainable and peaceful trade practices [6].

中国用稀土深度扼杀，美国国防巨头沉默不语，但痛苦才刚刚开始 最近看到一条让美国人睡不着觉的消息——中国对稀土出口管制再次升级了。看到这个消息 老陈心里那叫一个痛快啊！想当 年美国人是怎么对我们的？现在轮到他们着急了 这叫什么 这叫风水轮流转！ 说起稀土 可能很多朋友不太了解这玩意儿到底有多重要。老陈给大家说个数字：全球85%的稀土在中国！什么概念？就是说 离开了中国的稀土 全世界的高科技产业基本上都要瘫痪。你的手机 电脑 新能源汽车 甚至美国的F-35战斗机 都离不开稀土元 素。 转折点：中国人的脾气你不懂 但是啊 中国人是什么脾气？越是被人看不起 越要争口气！从2010年开始 中国开始对稀土出口进行管制。美国人当时什么反 应？急眼了！立马跑到WTO告我们 说我们违反自由贸易原则。哎呀 这脸皮得有多厚 当年你们技术封锁我们的时候怎么不说自 由贸易了？ 这些年 中国做了什么？我们不光控制了稀土的开采 更重要的是掌握了稀土精加工技术！现在全球90%以上的稀土精加工都在 中国完成。什么意思？就是说 就算其他国家有稀土矿 他们也得乖乖地运到中国来加工 然后再买回去。这叫什么？这叫产业链 控制！ 美国防务巨头的噩梦开始 ...

Group 1 - The core viewpoint is that both light and heavy rare earths are expected to see price increases in the future, with supply tightening and demand maintaining a growth trend [1] - The Chinese government has implemented four rounds of export controls on strategic metal resources in 2023, indicating an increasing focus on these resources [1][2] - The report suggests monitoring four companies primarily engaged in rare earth production: Guangxi Youse (600259), Shenghe Resources (600392), China Rare Earth (000831), and Northern Rare Earth (600111) [1] Group 2 - Light rare earth supply is expected to be limited due to the lack of publicly available mining quota information from the Ministry of Industry and Information Technology [3] - The demand for light rare earths is projected to grow, particularly in key sectors such as new energy vehicles and wind power, with significant year-on-year increases in production [4] - China dominates global rare earth smelting and separation capacity, holding approximately 88.56% of the total capacity, although this share is expected to decline in the coming years as other countries increase their capacities [4]

Group 1 - The core viewpoint is that both light and heavy rare earths are expected to see price increases in the future, with supply tightening and demand maintaining a growth trend [1] - The Chinese government has implemented four rounds of export controls on strategic metal resources in 2023, with an increasing number of metal categories and faster implementation times [2] - Previous export controls have led to price increases for metals such as gallium, germanium, and antimony, indicating a similar trend may occur for tungsten and medium-heavy rare earth elements in the coming months [3] Group 2 - The supply of light rare earths is expected to be limited due to the lack of publicly available mining quota information from the Ministry of Industry and Information Technology [4] - Demand for light rare earths is projected to grow significantly, driven by the increase in production of new energy vehicles and wind power installations [5] - China dominates global rare earth smelting and separation capacity, accounting for approximately 88.56% of the total, although this share is expected to decrease in the coming years as other countries increase their capacities [6]

Core Viewpoint - China, as the world's richest country in rare earth resources, is leading in the terbium oxide industry in terms of resource reserves, production capacity, and technological development. The country is reshaping the global rare earth supply chain through policy regulation and market mechanisms, with terbium oxide being a key strategic resource whose price fluctuations are critical indicators of international geopolitical and industrial trends [1][8][17]. Industry Overview - Terbium oxide (Tb₂O₃) is a black-brown powder with unique optical and magnetic properties, relatively stable chemical characteristics, and is insoluble in water but soluble in acid [2]. - China's rare earth reserves are approximately 44 million tons, accounting for nearly half of the global proven reserves, with production reaching 270,000 tons in 2024, a year-on-year increase of 12.50% [6][8]. Industry Chain - The upstream of the terbium oxide industry includes rare earth mineral resources and various production equipment. The midstream involves the manufacturing of terbium oxide, while the downstream applications include fluorescent materials, magneto-optical materials, catalysts, electronic ceramics, and new energy materials [4]. Current Industry Status - In April 2025, China implemented export controls on seven types of medium and heavy rare earths, causing international market panic and leading to a spike in European terbium oxide prices to $3,000 per kilogram (approximately 2.181 million RMB per ton). By June 2025, the domestic price of terbium oxide reached 7.09 million RMB per ton, a year-on-year increase of 31.30% [1][10][12]. Key Enterprises' Performance - The Chinese terbium oxide industry is characterized by a competitive landscape dominated by state-owned enterprises, with significant advantages in production and market position. For instance, China Northern Rare Earth Group has a net profit increase of 727.3% in Q1 2025, while China Rare Earth Group has a production volume of 7,785.27 tons in 2024, a year-on-year increase of 107.27% [12][15]. Industry Development Trends 1. **Policy Regulation and Export Control**: The export control policy is expected to be a long-term strategic tool, significantly altering the global rare earth supply-demand structure. The average approval cycle for export licenses has been shortened by 30% [17]. 2. **Technological Innovation**: The industry is focusing on green transformation and high value-added production, with companies like Northern Rare Earth investing in zero wastewater discharge systems and achieving a 30% reduction in energy consumption per unit of output [19]. 3. **Market Demand Evolution**: The demand for terbium and dysprosium is expected to grow significantly due to high-end markets like robotics and new energy vehicles, although there are potential risks from alternative materials and geopolitical tensions [20].

Group 1 - The European Union (EU) is criticizing China for "overcapacity" in industries like new energy and steel while simultaneously demanding that China lift export restrictions on rare earth minerals, highlighting a double standard in their approach [3][8][9] - China holds approximately 87% of the world's rare earth resources, which are essential for various high-tech applications, indicating a significant leverage in global supply chains [5][6] - China's response to the EU's demands emphasizes the importance of regulating rare earth exports to protect national resources, asserting that market demand will dictate production capacity rather than external pressures [9][10] Group 2 - In 2022, China's exports of new energy vehicles to the EU increased by 35%, suggesting that European consumers prefer Chinese products despite claims of overcapacity [8] - The EU's request for China to take on "great power responsibility" for global supply chain stability is seen as hypocritical, given past instances where the EU did not advocate for such responsibilities when benefiting from cheap Chinese rare earths [3][6] - The current situation reflects a shift in power dynamics, with China now in a position to negotiate from strength regarding its rare earth resources, contrasting with previous times when it faced technology restrictions from the EU [10]

Group 1 - The ongoing trade friction between China and the US has led to a significant decline in US energy exports to China, with imports of crude oil dropping to zero in June, marking the first time in three years [1][3] - The US shale oil industry is facing severe impacts due to the loss of the Chinese market, resulting in a dramatic drop in overseas sales and potential overcapacity risks [3][4] - China's ability to cut off US energy imports is attributed to increased tariffs making US energy products less competitive and its diversified energy supply strategy, including strong ties with Saudi Arabia and Russia [4][6] Group 2 - The Trump administration is under pressure from domestic energy sectors affected by the trade conflict, with significant job losses and investment reductions in key energy-producing states [6][8] - The upcoming third round of trade negotiations is critical for both countries, with the US seeking to address trade deficits and restore energy exports, while China aims to protect its rights and counter unreasonable trade restrictions [8] - China's strategic advantage in rare earth resources, which are crucial for high-end manufacturing and military applications, further strengthens its position in the trade negotiations [6][8]