在全球资源博弈日益复杂的今天，一些国家开始通过不正当手段打破原有的贸易规则，寻找绕过中国出 口管制的途径。墨西哥的自贸区和泰国的经济走廊，成为了某些国家和企业的"资源中转站"。这种通过 第三方国家进行资源转运的做法，表面上符合国际贸易的自由化趋势，实则在破坏全球贸易规则的同 时，也加剧了资源争夺的暗流涌动。其背后不仅是资源富国与资源贫国之间的博弈，更是大国在全球经 济秩序中的深刻较量。 中国在近年对镓、锗、锑等关键矿产实施的出口管制，成为全球供应链中的一颗重磅炸弹。随着全球对 稀缺资源的需求激增，尤其是在高科技与军事领域，镓、锗、锑等矿产的战略地位日益凸显。中国作为 这些资源的最大生产国，其出口管制不仅让国际市场遭遇异常波动，还揭示了全球资源争夺背后的复杂 博弈和潜在的走私网络。美国在这一变动中的表现尤其引人注目，供应链的突变和跨国走私的愈演愈 烈，正是国际资源博弈加剧的一个缩影。 自2024年初，中国对镓、锗、锑等关键矿产的出口实施管制后，全球供应链立刻出现剧烈波动。根据最 新数据显示，2024年前四个月，泰国和墨西哥向美国的氧化锑出口量激增至3834吨，远超历史水平。这 两个几乎不产锑的国家，突然成为了美 ...

分行业看，受新能源、光伏等下游需求增加影响，以及人工智能在更多领域的商业化应用推动，有色金属价格指数继续走高。另外，受高 温多雨天气导致项目施工进度放缓影响，黑色价格指数和矿产价格指数环比有所回落。 专家表示，当前正处于10月传统生产旺季，随着国家反内卷、促增长系列政策落地显效，大宗商品市场有望继续保持平稳向好运行态势。 同时也要看到，全球经济复苏仍面临地缘政治、贸易摩擦等挑战，部分行业有效需求仍显不足。巩固经济回升向好态势，仍需进一步加大宏观 经济调控力度，着力激发企业创新活力，释放内需潜力。 9月份中国大宗商品价格指数为111.9点，环比上涨0.2%，连续五个月实现环比上升。与去年9月份比，中国大宗商品价格指数上涨1.7%， 同比增幅较上月扩大0.5个百分点，整体表现好于去年同期。 在中国物流与采购联合会重点监测的50种大宗商品中，9月份价格环比上涨的大宗商品有18种。其中，瓦楞纸、烧碱和电解铜涨幅居前， 较上月分别上涨6%、2.5%和2.3%。 央视网消息：中国物流与采购联合会5日公布9月份中国大宗商品价格指数。从指数运行情况看，指数连续五个月实现环比上升，表明企业 预期乐观，生产经营保持扩张，大宗商品 ...

上海钢联研究员魏莉分析，受美联储降息提振国际有色金属价格影响，以及人工智能在更多领域的商业化应用推动，有色金属价格指数继续走高，环比上涨 1.1%。其中，电解铜价格环比上涨2.3%，主因印尼Grasberg矿山因泥石流事故暂停生产，推动全球铜价大幅上扬。碳酸锂价格环比下跌5.5%，主要因市场供 过于求，过剩产能退出仍需时日。 新华财经北京10月5日电（记者刘玉龙）5日，由中物联大宗商品流通分会和上海钢联等单位联合调查，中国物流与采购联合会发布的2025年9月份中国大宗 商品价格指数（CBPI）为111.9点，环比上涨0.2%，同比上涨1.7%。从指数运行情况看，连续五个月实现环比上升，表明企业预期乐观，生产经营保持扩 张，大宗商品市场总体运行平稳。 业内人士分析，部分行业有效需求仍显不足，当前正处十月传统生产旺季，随着促增长系列政策推进，大宗商品市场有望继续保持平稳向好运行态势。 有色价格指数继续走高 黑色价格指数震荡走低 分行业看，有色价格指数继续走高，报131.8点，月环比上涨1.1%，年同比上涨5.7%；黑色价格指数未能延续反弹，震荡走低，报79.0点，月环比下跌 0.8%，年同比上涨0.7%。 | 项 ...

在中国物流与采购联合会重点监测的50种大宗商品中，9月份价格环比上涨的大宗商品有18种。其中， 瓦楞纸、烧碱和电解铜涨幅居前，较上月分别上涨6%、2.5%和2.3%。 分行业看，受新能源、光伏等下游需求增加影响，以及人工智能在更多领域的商业化应用推动，有色金 属价格指数继续走高。另外，受高温多雨天气导致项目施工进度放缓影响，黑色价格指数和矿产价格指 数环比有所回落。 中国物流与采购联合会今天（10月5日）公布9月份中国大宗商品价格指数。从指数运行情况看，指数连 续五个月实现环比上升，表明企业预期乐观，生产经营保持扩张，大宗商品市场总体运行平稳。 9月份中国大宗商品价格指数为111.9点，环比上涨0.2%，连续五个月实现环比上升。与去年9月份比， 中国大宗商品价格指数上涨1.7%，同比增幅较上月扩大0.5个百分点，整体表现好于去年同期。 专家表示，当前正处于10月传统生产旺季，随着国家反内卷、促增长系列政策落地显效，大宗商品市场 有望继续保持平稳向好运行态势。同时也要看到，全球经济复苏仍面临地缘政治、贸易摩擦等挑战，部 分行业有效需求仍显不足。巩固经济回升向好态势，仍需进一步加大宏观经济调控力度，着力激发企业 ...

中国物流与采购联合会今天（5日）公布9月份中国大宗商品价格指数。从指数运行情况看，指数连续五个月实现环比上升，表明企业预期乐观，生产经营保 持扩张，大宗商品市场总体运行平稳。 专家表示，当前正处于10月传统生产旺季，随着国家反内卷、促增长系列政策落地显效，大宗商品市场有望继续保持平稳向好运行态势。同时也要看到，全 球经济复苏仍面临地缘政治、贸易摩擦等挑战，部分行业有效需求仍显不足。巩固经济回升向好态势，仍需进一步加大宏观经济调控力度，着力激发企业创 新活力，释放内需潜力。 （文章来源：央视新闻客户端） 分行业看，受新能源、光伏等下游需求增加影响，以及人工智能在更多领域的商业化应用推动，有色金属价格指数继续走高。另外，受高温多雨天气导致项 目施工进度放缓影响，黑色价格指数和矿产价格指数环比有所回落。 9月份中国大宗商品价格指数为111.9点，环比上涨0.2%，连续五个月实现环比上升。与去年9月份比，中国大宗商品价格指数上涨1.7%，同比增幅较上月扩 大0.5个百分点，整体表现好于去年同期。 在中国物流与采购联合会重点监测的50种大宗商品中，9月份价格环比上涨的大宗商品有18种。其中，瓦楞纸、烧碱和电解铜涨幅居前 ...

Core Insights - Moody's has maintained Côte d'Ivoire's sovereign rating at Ba2 with a stable outlook, reflecting confidence in the country's economic and fiscal development trajectory ahead of the presidential elections [2] Economic Outlook - Moody's forecasts a GDP growth rate of 6.6% for Côte d'Ivoire in 2025-2026, driven by the effective implementation of national development plans, increased private investment in strategic sectors (oil, minerals, air transport), and improved government governance [2] - Public fiscal revenue is expected to reach 18% of GDP by 2025, supported by high gold prices and increased oil production, with the fiscal deficit projected to decrease to 2.5% [2] Regional Context - The security situation in West Africa is expected to stabilize as three Sahel countries officially exit the West African Economic and Monetary Union (WAEMU) in 2024 [2] Risks - Despite positive economic indicators, Côte d'Ivoire faces ongoing political and social risks, including high youth unemployment, increasing regional development disparities, and weak education and healthcare social safety nets, which could lead to social unrest [2] - Moody's indicated that a further upgrade in the rating could be considered if Côte d'Ivoire continues to improve social indicators without increasing the fiscal deficit [2]

Group 1: Supply and Demand Dynamics - The global supply and demand landscape for critical minerals is undergoing significant changes, with a surge in demand driven by energy transition, particularly in electric vehicles and energy storage [1][6][7] - Lithium demand is expected to increase by nearly 30% year-on-year in 2024, significantly outpacing the average annual growth rate of 10% seen in the 2010s [1][6] - By 2040, lithium, graphite, and rare earth demand is projected to grow by 4.7 times, 2.2 times, and 1.6 times respectively, with electric vehicle batteries consuming 60% of global lithium and 40% of nickel and cobalt [1][7] Group 2: Supply Concentration and Investment Trends - The supply side is characterized by increasing concentration, with China, Indonesia, and the Democratic Republic of Congo dominating the market, leading to an average market share of 86% in the refining sector for the top three producing countries [1][9] - Despite the surge in demand, global investment in critical mineral extraction is expected to slow, with growth rates dropping to 5% in 2024, half of the previous year's rate [1][10] - The International Energy Agency (IEA) warns of potential shortages, predicting a 30% gap in copper supply by 2035 and possible lithium shortages in the 2030s [1][10] Group 3: Geopolitical Influences and Market Pressures - Geopolitical tensions are reshaping resource order, with countries accelerating the establishment of mineral security frameworks, such as the U.S. simplifying licensing processes and the EU passing the Critical Raw Materials Act [2][15] - China's export controls on strategic minerals have led to significant price increases, with bismuth prices rising by 90% and cobalt prices surging by 67% following export restrictions [2][26] - The market faces structural contradictions, with rising costs and environmental pressures hindering development, as emerging producers experience higher operational costs compared to leading producers [2][8] Group 4: Policy Innovations and Technological Breakthroughs - To address these challenges, innovative policy mechanisms are needed, such as establishing certification systems for differentiated pricing and increasing public financial support for high-risk projects [3] - Technological advancements in mining, refining, and recycling are essential, including the development of new techniques to reduce energy consumption and costs in rare earth production [3][29] - The report emphasizes the importance of international cooperation and partnerships to ensure a stable supply chain for critical minerals [30][31]

据了解，"大地生辉——安徽地质矿产主题展"共有四个单元，多角度展现安徽地貌景观、矿冶文 明、绿色发展与地矿人故事。中国地质博物馆馆长姚义川表示，作为中国地质博物馆全国体系建设的重 要一环，安徽分馆的加入，不仅是对安徽区域地质资源的深度整合，更是推动地质文化协同发展的重要 举措。 新华网合肥9月29日电（记者赵金正）29日，"大地生辉——安徽地质矿产主题展"开展暨中国地质 博物馆安徽分馆授牌仪式在安徽省合肥市举办。 据介绍，安徽将重点围绕战略性、紧缺急需发展难题，提升重要能源和矿产资源保障能力，完善跨 部门、跨层级的矿山全生命周期全链条监管体系，强化科技攻关和人才培养。坚定践行绿水青山就是金 山银山理念，走一条资源开发与生态保护双赢的高品质发展新路。数据显示，安徽省已发现的矿产有 128种，其中煤、铁、铜等9个矿种资源量全国排名前10，并打造了铜陵、两淮、马钢等国家级资源能源 基地。安徽省建设绿色矿山占全省持证在产矿山的47%，位居全国前列。 ...

Core Insights - The global cesium and rubidium resources are rare and concentrated, with significant applications in various high-tech fields [2][3][8] - The supply of cesium and rubidium salts is rigid, with a notable market share held by Zhongjin Resources [4][5][9] Group 1: Resource Availability - As of 2020, global cesium ore reserves were approximately 220,000 tons, primarily located in Canada (120,000 tons, 55%), Zimbabwe (60,000 tons, 28%), Namibia (30,000 tons, 14%), and Australia (7,100 tons, 3%) [3] - By 2024, global cesium mineral resources are reported to be less than 200,000 tons, mainly concentrated in Australia, Canada, Namibia, and China [3] - Global rubidium reserves are highly concentrated, with 102,000 tons reported in 2020 (excluding China), primarily in Namibia (50,000 tons, 49%), Zimbabwe (30,000 tons, 29%), and Canada (12,000 tons, 12%) [3] Group 2: Market Dynamics - The global production of cesium and rubidium salts peaked in 2021 at 2,231 tons, but is projected to decline by 13.9% to 1,921 tons by 2024 [4][5] - Zhongjin Resources' production decreased from 993 tons in 2021 to 960 tons in 2024, yet its market share increased from 45% to approximately 50% [5] - The scarcity of available cesium and rubidium resources is driving a rigid supply, enhancing Zhongjin Resources' market position [5][9] Group 3: Pricing and Demand - The price of international rubidium has increased from 775 RMB per gram in 2020 to 900 RMB per gram in 2024, with a CAGR of 3.8% [6] - The average annual price increase for Zhongjin Resources' cesium and rubidium fine chemical products is projected to be 24% from 2022 to 2024 [6] - The limited supply of rubidium, which is produced as a byproduct of lithium and cesium extraction, is constraining market applications despite its similar demand profile to cesium [6][9] Group 4: Technological Advancements - Domestic companies are making progress in lithium mica cesium and rubidium extraction technologies, which is crucial for supply chain risk control and industry upgrades [7] - Jin Yinhe's low-temperature sulfuric acid method for lithium mica extraction is noted for its low energy consumption and high purity, significantly reducing extraction costs [7] - The projected annual production capacity for rubidium and cesium salts from Jin Yinhe is estimated to be 1,200-1,700 tons and 300-450 tons, respectively, enhancing the supply chain security for cesium and rubidium resources in China [7] Group 5: Future Supply Expansion - Global cesium and rubidium supply is expected to increase due to expansion plans by leading companies, with Zhongjin Resources set to boost its production capacity by 50% by 2025 [8][9] - The overall cesium supply is projected to rise from 1,881 tons in 2024 to 2,811 tons by 2027, with a CAGR of 14%, while rubidium supply is expected to grow from 40 tons to 1,740 tons in the same period [9] - The demand for cesium and rubidium is anticipated to grow due to advancements in high-tech applications and emerging needs in new energy sectors [9]

商业银行对科技企业的支持力度持续加大。企业预警通数据显示，截至9月24日，9月份有8家上市公司 发布并购贷款相关事项的公告。 近期的上市公司并购贷款案例体现政策引导效应，科技型企业成为核心受益群体，8家上市企业获得银 行批复的并购贷款涉及授信总额约41亿元，其中授信主体多为科技企业。 科技型企业并购活跃 从8家上市公司发布的并购贷款公告来看，除安宁股份的贷款规模达30亿元外，其余均在3亿元以内，其 中还有2家为千万元级别。 安宁股份公告显示，安宁股份董事会已审议通过，向由中国工商银行、中国邮政储蓄银行等6家银行组 成的银团申请总额30亿元的并购贷款，期限长达7年（84个月）。该贷款用途专项用于支付对攀枝花市 经质矿产及其关联企业会理县鸿鑫工贸、立宇矿业的实质合并重整交易价款。担保方式以经质矿产持有 的小黑箐经质铁矿采矿权作为抵押，同时安宁股份将所持三家标的公司的全部股权进行质押。 安宁股份方面对《中国经营报》记者表示："此笔并购贷款的利率以LPR为定价基准，经公司与银行协 商后签署协议最终确定。其资金拨付将与并购进程同步。" 一位接近安宁股份人士指出："资源+股权双重增信模式在矿产类并购中较为常见，既体现了资 ...