业内人士表示，除了供需基本面，年末全球的降息大环境等因素也在推高钨价。格林大华期货副总经理 王骏称，11月到12月初，全球主要的大宗商品，尤其是金属和稀有金属，包括贵金属价格都出现了上 涨。全球进入了降息的大周期，大量的货币涌入市场，抬高了战略物资和稀缺商品价格。 （文章来源：第一财经） 数据显示，2024年中国钨矿产量为6.7万吨，占全球钨矿产量83%。今年2月，商务部会同海关总署发布 通知，对包括钨在内的多种稀有金属产品及相关技术实施出口管制；同时，国内对走私和非法开采的打 击力度持续加大。在政策约束下，国内外现货资源均趋紧，进一步推高价格。 据央视财经，今年以来，钨价出现罕见上涨，钨精矿、仲钨酸铵、碳化钨等主要产品价格涨幅均超 200%，引发市场关注。 ...

路博迈资源精选股票发起A（021875）成立日期2024年9月19日，最新规模2978.6万。今年以来收益 97.37%，同类排名38/4189；近一年收益94.18%，同类排名32/4188；成立以来收益81.11%。 路博迈资源精选股票发起A（021875）基金经理为黄道立。 截至发稿，黄道立累计任职时间1年104天，现任基金资产总规模6497.08万元，任职期间最佳基金回报 78.74%， 任职期间最差基金回报77.05%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 12月31日，洛阳钼业涨1.02%，截至发稿，报19.72元/股，成交3.58亿元，换手率0.10%，总市值4218.96 亿元。 资料显示，洛阳栾川钼业集团股份有限公司位于河南省洛阳市栾川县城东新区画眉山路伊河以北，成立 日期1999年12月22日，上市日期2012年10月9日，公司主营业务涉及主要从事钼、钨及黄金等稀贵金属 的开采、选冶、深加工、贸易、科研等。生产所需原辅材 ...

二、宝藏揭秘：铷是啥稀罕物？软得像蜡，用处却逆天 先给大家伙儿科普科普铷这宝贝。它属于碱金属的一种，原子序数37，长得白白净净的，是银白色的， 质地软得跟蜡烛似的，用手轻轻一捏都能变形。这玩意儿娇气得很，一碰到空气就容易氧化，熔点还 低，密度也小，平时看着不起眼，可关键时刻能顶大用。 一、开篇唠实嗑：咱中国找矿有一手，稀有金属藏不住 要说咱中国在地质找矿这事儿上，那真是有两把刷子，从来没歇过脚！尤其是那些稀有的金属资源，仿 佛跟咱有缘分似的，隔三差五就能挖出点让全世界都眼红的宝贝。别的不说，就2018年广东河源那地界 儿，直接闹出了个大动静——地质队在天堂山一带，硬是探明了一个超大型的独立铷矿床，储量一出来 直接惊掉众人下巴，足足17.5万吨！这数儿往全球一放，那绝对是独一份、头一份的存在，连老外都得 竖起大拇指说"中国牛"！ 可能有人要问了，铷这玩意儿听着怪陌生的，到底是个啥？能有多大用处？别急，咱慢慢唠。这铷虽说 是个低调的主儿，但能耐可不小，不管是高科技、医疗还是新能源领域，都离不开它。更关键的是，以 前这东西都是跟别的矿混在一起，想提取出来费劲得很，成本也高。现在咱发现了独立矿床，一下子就 在这稀罕资 ...

Group 1 - The core viewpoint highlights that the rare metals sector is returning to fundamentals following the easing of US-China trade tensions and the Federal Reserve's interest rate cuts, with specific metals like rare earths, tungsten, and antimony showing varied performance [1] - Rare earths are expected to see price increases due to a temporary suspension of export controls by China, which is anticipated to boost procurement willingness among downstream manufacturers [1] - The current price of rare earths is within an acceptable range for both upstream and downstream players, and strict supply controls remain in place, suggesting that demand recovery will be a key driver for price increases [1] Group 2 - Lithium prices have risen due to strong demand in the energy storage market, which is experiencing unprecedented growth, supported by new capacity pricing policies [2] - By the end of September 2025, China's new energy storage capacity is projected to exceed 100 million kilowatts, representing a more than 30-fold increase compared to the end of the 13th Five-Year Plan, making China the world's largest market [2] - Cobalt prices have increased to around 400,000 yuan per ton, influenced by supply disruptions from the Democratic Republic of the Congo, which has announced a suspension of cobalt exports [2]

Core Points - Luoyang Molybdenum Co., Ltd. experienced a 5.16% decline in stock price, trading at 16.16 CNY per share with a total market capitalization of 345.73 billion CNY as of November 3 [1] - The company, established on December 22, 1999, and listed on October 9, 2012, primarily engages in the mining, selection, deep processing, trading, and research of rare metals such as molybdenum, tungsten, and gold [1] - The revenue composition of the company includes refined metal product trading (48.56%), concentrate product trading (38.31%), copper (27.14%), cobalt (6.04%), molybdenum (3.12%), phosphorus (2.23%), niobium (1.88%), tungsten (1.17%), and others (0.11%) [1] Fund Holdings - Zhonggeng Fund holds a significant position in Luoyang Molybdenum, with its "Zhonggeng Value Dynamic Flexible Allocation Mixed Fund" (007497) owning 3.924 million shares, accounting for 5.47% of the fund's net value, making it the fourth-largest holding [2] - The fund has reported a year-to-date return of 36.98% and a one-year return of 31.58%, ranking 2188 out of 8223 and 2610 out of 8115 respectively [2] - The fund manager, Wu Chenggen, has been in position for 5 years and 155 days, with the fund's total assets amounting to 1.127 billion CNY and a best return of 130.96% during his tenure [2]

Group 1 - The core point of the news is that Luoyang Molybdenum Co., Ltd. has seen a stock price increase of 2.32% to 15.90 CNY per share, with a total market capitalization of 340.17 billion CNY, and a cumulative increase of 5.72% over the past four days [1] - The company, established on December 22, 1999, and listed on October 9, 2012, primarily engages in the mining, selection, deep processing, trading, and research of rare metals such as molybdenum, tungsten, and gold [1] - The main revenue composition of the company includes refined metal product trading (48.56%), concentrate product trading (38.31%), copper (27.14%), cobalt (6.04%), molybdenum (3.12%), phosphorus (2.23%), niobium (1.88%), tungsten (1.17%), and others (0.11%) [1] Group 2 - From the perspective of fund holdings, the Caifeng Fund has a significant position in Luoyang Molybdenum, with its flagship fund holding 97,200 shares, representing 2.09% of the fund's net value, making it the largest holding [2] - The fund has realized a floating profit of approximately 35,000 CNY today and a total of 83,600 CNY during the four-day price increase [2] - The fund, established on March 22, 2013, has a current scale of 39.21 million CNY, with a year-to-date return of 11.44% and a one-year return of 10.45% [2]

Core Viewpoint - Luoyang Molybdenum Co., Ltd. experienced a 5.1% decline in stock price, closing at 16.36 CNY per share, with a trading volume of 5.068 billion CNY and a turnover rate of 1.71%, resulting in a total market capitalization of 350.011 billion CNY [1] Company Overview - Luoyang Molybdenum Co., Ltd. was established on December 22, 1999, and went public on October 9, 2012. The company is primarily engaged in the mining, selection, deep processing, trading, and research of precious metals such as molybdenum, tungsten, and gold [1] - The revenue composition of the company's main business includes: refined metal product trading (48.56%), concentrate product trading (38.31%), copper (27.14%), cobalt (6.04%), molybdenum (3.12%), phosphorus (2.23%), niobium (1.88%), tungsten (1.17%), and others (0.11%) [1] Fund Holdings - According to data from major funds, one fund under Shenwan Hongyuan holds a significant position in Luoyang Molybdenum. The Shenwan Hongyuan Carbon Neutrality Selected Mixed Fund A (016101) reduced its holdings by 1,300 shares in the second quarter, now holding 34,900 shares, which accounts for 3.53% of the fund's net value, ranking as the fifth-largest holding [2] - The Shenwan Hongyuan Carbon Neutrality Selected Mixed Fund A (016101) was established on August 2, 2022, with a latest scale of 6.6552 million CNY. Year-to-date returns are 3.79%, ranking 1 out of 2 in its category; the one-year return is 13.05%, also ranking 1 out of 2; however, since inception, it has incurred a loss of 41.68% [2]

Core Viewpoint - Luoyang Molybdenum Co., Ltd. has shown significant trading activity with a notable increase in stock price and high financing levels, indicating strong market interest and potential investment opportunities [1][2]. Financing Activity - On September 25, Luoyang Molybdenum's stock rose by 9.90% with a trading volume of 8.928 billion yuan - The financing buy-in amount for the day was 1.033 billion yuan, while the financing repayment was 1.094 billion yuan, resulting in a net financing outflow of 61.3273 million yuan - As of September 25, the total financing and securities lending balance was 2.542 billion yuan, with the financing balance at 2.519 billion yuan, accounting for 1.04% of the circulating market value, which is above the 90th percentile of the past year [1]. Securities Lending Activity - On the same day, 174,600 shares were repaid in securities lending, while 235,100 shares were sold short, amounting to 3.2608 million yuan based on the closing price - The remaining securities lending volume was 1.6646 million shares, with a balance of 23.088 million yuan, also exceeding the 90th percentile of the past year [1]. Company Overview - Luoyang Molybdenum was established on December 22, 1999, and listed on October 9, 2012, primarily engaged in the mining, selection, deep processing, trading, and research of rare metals such as molybdenum, tungsten, and gold [2]. - The company's main business revenue composition includes refined metal product trading (48.56%), concentrate product trading (38.31%), copper (27.14%), cobalt (6.04%), molybdenum (3.12%), phosphorus (2.23%), niobium (1.88%), tungsten (1.17%), and others (0.11%) [2]. Financial Performance - For the first half of 2025, Luoyang Molybdenum reported operating revenue of 94.773 billion yuan, a year-on-year decrease of 7.83% - The net profit attributable to shareholders was 8.671 billion yuan, reflecting a year-on-year increase of 60.07% [2]. Dividend Distribution - Since its A-share listing, Luoyang Molybdenum has distributed a total of 21.562 billion yuan in dividends, with 10.576 billion yuan distributed over the past three years [3]. Institutional Holdings - As of June 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited, which increased its holdings by 6.9489 million shares to 648 million shares - Other notable shareholders include Huaxia SSE 50 ETF and Huatai-PB CSI 300 ETF, both of which increased their holdings compared to the previous period [3].

Group 1: Rare Metal ETF Performance - The Rare Metal ETF has a turnover rate of 2.43% with a transaction volume of 59.74 million yuan, ranking first among comparable funds in terms of average daily trading volume over the past month at 215 million yuan [2] - The ETF's scale has increased by 220 million yuan this month, also ranking first among comparable funds, with a share growth of 58.05 million shares in the past two weeks [2] - Over the last 10 trading days, the ETF has attracted a total of 51.86 million yuan in inflows, and its net value has risen by 82.60% over the past year [2] - The ETF has recorded a maximum monthly return of 24.02% since its inception, with the longest consecutive monthly gain being 4 months and an average monthly return of 8.77% [2] Group 2: Cobalt Market Dynamics - Starting from October 16, 2025, the Democratic Republic of Congo will implement a cobalt export quota system, aiming to boost cobalt prices by controlling supply [3] - The DRC is projected to account for 76.3% of global cobalt production in 2024, and the quota restrictions are expected to significantly reduce global cobalt supply, leading to an estimated annual shortage of about 30,000 tons in the cobalt market from 2026 to 2027 [3] - The lithium battery sector is expected to generate revenue of 1.14 trillion yuan in the first half of 2025, with a year-on-year growth of 13.78% and a net profit of 67.95 billion yuan, reflecting a 28.07% increase [3] Group 3: Top Holdings in Rare Metal Index - As of August 29, 2025, the top ten weighted stocks in the Rare Metal Theme Index include Northern Rare Earth, Luoyang Molybdenum, Salt Lake Industry, Huayou Cobalt, Tianqi Lithium, Ganfeng Lithium, China Rare Earth, Shenghe Resources, Zhongjin Resources, and Xiamen Tungsten, collectively accounting for 57.58% of the index [3] Group 4: Investment Opportunities - Investors can also participate in the rare metal sector through the Rare Metal ETF linked fund (014111) [6]

Core Insights - The discovery of a significant beryllium deposit in the Bayanghe area of Xinjiang, China, with a total reserve of 2 million tons, is poised to meet China's beryllium demand for the next fifty years, as this reserve is four times larger than the known global beryllium reserves [1][3] - Beryllium's unique properties, such as lightweight, high strength, and excellent thermal conductivity, make it essential in high-tech sectors like aerospace, nuclear energy, and electronic communications [1][4] - The beryllium deposit also contains uranium, allowing for the simultaneous extraction of both resources, which could further enhance the development of China's nuclear energy sector [3][4] Industry Implications - The beryllium resource scarcity has historically limited its widespread application, with approximately 60% of global beryllium resources concentrated in Utah, USA, and the rest scattered across China and Brazil [1][4] - The mining of beryllium presents significant challenges due to its toxicity, particularly the dangers posed by beryllium dust, necessitating strict safety measures during extraction [4][6] - The discovery in Xinjiang is expected to reduce China's reliance on imported beryllium, enhance the efficiency of nuclear power plant construction, and boost competitiveness in the global high-tech market [6]