Core Insights - The China Rare Earth Industry Index has decreased by 1.58% as of October 22, 2025, with mixed performance among constituent stocks, led by Shengxin Lithium Energy with a rise of 1.81% [1] - The recent tightening of rare earth export controls by the Ministry of Commerce is expected to strengthen China's strategic position in the rare earth market, potentially leading to increased prices [3] Group 1: Market Performance - The rare earth ETF, Jiashi, has seen a turnover of 1.52% and a transaction volume of 1.61 billion yuan, with its latest scale reaching 10.875 billion yuan, marking a new high since its inception [2] - Over the past week, Jiashi's shares increased by 5.76 million, leading the comparable funds in terms of new share growth [2] - In the last five trading days, Jiashi has experienced net inflows on four occasions, totaling 2.251 billion yuan [2] Group 2: Fund Performance - As of October 21, 2025, Jiashi's net value has increased by 91.40% over the past two years, ranking 79th out of 2,358 index equity funds, placing it in the top 3.35% [2] - The highest monthly return since inception for Jiashi was 41.25%, with the longest consecutive monthly gain being four months and a maximum increase of 83.89% [2] Group 3: Industry Dynamics - The recent policy changes include increased export controls on five categories of medium and heavy rare earths, as well as restrictions on equipment, technology, and raw materials across the entire industry chain [3] - These measures are expected to complicate the establishment of independent rare earth supply chains overseas, thereby enhancing China's competitive advantage in the long term [3] - The limitations on overseas supply of rare earth magnetic materials are anticipated to boost demand for high-performance ferrite permanent magnets, leading to a significant increase in orders [3] Group 4: Key Stocks - The top ten weighted stocks in the China Rare Earth Industry Index account for 61.96% of the index, with notable performers including Northern Rare Earth and China Rare Earth, which saw declines of 2.69% and 1.81% respectively [2][5]

消息面上，10月9日，中国商务部宣布收紧稀土出口管制措施，主要是扩大稀土出口管制范围及审批范 围。此外，包钢股份（600010）、北方稀土（600111）10月10日晚间发布公告称，上调2025年第四季度 稀土精矿关联交易价格。据悉，北方稀土将2025年第四季度稀土精矿交易价格调整为不含税26205元/吨 （干量，REO=50%），环比增长37%。REO（稀土氧化物）每增减1%，不含税价格增减524.10元/吨。 近期中美贸易战再生波澜，10月10日，特朗普在社交平台表示，美国将自11月1日起对中国商品征收额 外的100%关税，并对关键软件实施出口管制。方正证券表示，美国再挑关税冲突，稀土重现王牌底 色。中信建投（601066）称，商务部连发四文强化稀土出口管制，增加5类中重稀土出口管控，增加全 产业链条设备、技术、原辅材料出口管制，并对海外军事及高端半导体需求进行管制，稀土战略地位进 一步强化。 金力永磁（300748）(06680)高开逾6%，截至发稿，涨6.3%，报27港元，成交额1186.92万港元。 ...

近期中美贸易战再生波澜，10月10日，特朗普在社交平台表示，美国将自11月1日起对中国商品征收额 外的100%关税，并对关键软件实施出口管制。方正证券表示，美国再挑关税冲突，稀土重现王牌底 色。中信建投称，商务部连发四文强化稀土出口管制，增加5类中重稀土出口管控，增加全产业链条设 备、技术、原辅材料出口管制，并对海外军事及高端半导体需求进行管制，稀土战略地位进一步强化。 消息面上，10月9日，中国商务部宣布收紧稀土出口管制措施，主要是扩大稀土出口管制范围及审批范 围。此外，包钢股份、北方稀土10月10日晚间发布公告称，上调2025年第四季度稀土精矿关联交易价 格。据悉，北方稀土将2025年第四季度稀土精矿交易价格调整为不含税26205元/吨（干量， REO=50%），环比增长37%。REO（稀土氧化物）每增减1%，不含税价格增减524.10元/吨。 智通财经APP获悉，金力永磁(06680)高开逾6%，截至发稿，涨6.3%，报27港元，成交额1186.92万港 元。 ...