中国发布稀土价格指数： 树立全球新定价话语权 ·北方稀土控股的包头稀土产品交易所，承担中国每年约三分之二的稀土产量。 ·该交易所已用基于交易的基准价格取代了独立生产商的报价，覆盖近千家注册企业。 ·与西方大宗商品指数不同，此"价格指数"在中国"有为政府与有效市场结合"的框架下，发挥政策工具作用。 ·定价更多受到生产配额、出口管控及战略目标驱动，而非完全由独立的市场力量主导。 ·这一机制使中国在制度层面掌控了全球稀土的定价权。 该价格指数旨在提升市场透明度，同时也可理解为在全球供应链趋紧背景下，影响稀土定价、参考标准与交易方式的战略举措。 【Rare Earth Exchanges网 1月5日报道】 核心要点 ·2025年，新华社平台发布中国国家主导的包头稀土价格指数。 ·该指数追踪关键稀土产品，或将成为全球实际参考基准，其反映的是宏观调控的价格，而非完全自由市场形成的价格。 对于美国和西方相关方而言，其影响远不止于数据可获得性。除了新兴的"中国以外"稀土供应链市场中公司间的特定合同外，中国驱动着全球稀土定价。 重要的是，目前这一定价体系尚处于早期阶段，而特朗普政府的政策在一定程度上加速了这一进程。但目前，钕镨 ...

Core Viewpoint - The article highlights the significant profit increase of Shenghe Resources in the third quarter, driven by the rise in rare earth prices, with net profit expected to reach between 740 million to 820 million yuan, marking a year-on-year increase of 696.82% to 782.96% [1][6]. Group 1: Profit Performance - Shenghe Resources anticipates a net profit of 740 million to 820 million yuan for the first three quarters, significantly exceeding most institutional expectations [1]. - The company's net profit for the third quarter is projected to be around 400 million yuan, a 100% increase compared to the previous quarter [6]. - The overall profit trend of Shenghe Resources is closely linked to the fluctuations in rare earth prices, which have shown a notable upward trend since July [5][8]. Group 2: Market Dynamics - The rare earth price index, tracked by the China Rare Earth Industry Association, rose sharply from 160-180 points in the first half of the year to a peak of 233 points in mid-August [3][5]. - The demand for rare earth products has improved due to changes in market supply and demand dynamics, contributing to the price increase [1][5]. Group 3: Business Structure and Future Outlook - Shenghe Resources operates a comprehensive industrial chain in rare earths, covering mining, smelting, separation, and deep processing, with rare earth metals and oxides accounting for 83% of its revenue in 2024 [5]. - The company recently completed the acquisition of Peak Rare Earths Limited, which includes a significant asset in Tanzania, expected to enhance future earnings [12][13]. - The project is projected to yield a net profit of approximately 390 million yuan, contingent on successful production timelines and resource recovery rates [13].

Core Viewpoint - The article discusses the shift in global media perception towards China, particularly in Europe, highlighting a growing respect for China's strategic use of resources, especially rare earth elements, in the context of trade tensions with the United States [1][3]. Group 1: Trade War and Rare Earth Elements - The U.S.-China trade war began in 2018, with the U.S. imposing tariffs on steel, aluminum, and semiconductors, amounting to over a hundred billion dollars [3]. - China responded to U.S. tariffs by leveraging its dominance in rare earth elements, which are crucial for high-tech and military applications, with over 70% of U.S. rare earth imports coming from China [3][6]. - In April 2025, China announced new export management rules for rare earths, prioritizing domestic needs, showcasing its strategic leverage in the supply chain [3][6]. Group 2: Germany's Perspective - Germany, as a supply chain-driven economy, recognizes the risks of resource supply disruptions, which could halt entire industries [5]. - German media noted that China's assertive stance is part of a broader strategy to upgrade its industrial capabilities rather than merely exporting raw materials [5][10]. - The respect from Germany stems from China's long-term planning in the rare earth sector, as evidenced by the 2023 "Rare Earth Industry Development Plan" aimed at achieving self-sufficiency in key technologies [6]. Group 3: Technological Advancements - China is not only rich in rare earth resources but is also making significant technological advancements, such as developing room-temperature superconductors and enhancing 5G transmission speeds [8]. - The integration of rare earths with green technologies, such as CO2 conversion into gasoline, demonstrates China's innovative approach to resource utilization [8]. - China's dominance in rare earth-related patents, accounting for 83% of global patents, indicates a shift from merely selling raw materials to selling technology [8]. Group 4: Strategic Implications - The U.S. miscalculated by believing that tariffs would force China to concede, but instead, it has led to China's self-sufficiency in the rare earth supply chain [10]. - The article suggests that the long-term implications of this trade war could result in China becoming increasingly stronger in the global market [10].

Core Insights - China is tightening its control over rare earth elements, which are critical for high-tech industries and military applications, through a series of regulatory measures [1][2][4] Regulatory Measures - Chinese authorities have mandated rare earth companies to submit lists of technical experts, including their educational backgrounds and research experiences, to monitor and prevent the outflow of key technologies [2][4] - The Ministry of Commerce and the Ministry of Science and Technology have included "rare earth extraction and processing technologies" in the prohibited export list, further sealing off channels for technology leakage [4][9] Market Dynamics - China controls over 60% of global rare earth exports and monopolizes 80% of key rare earth materials, making it difficult for the U.S. to establish an independent supply chain in the short term [5][9] - The U.S. faces significant challenges in rebuilding its rare earth supply chain, including a lack of existing mining equipment and skilled labor, which could take at least five years to address [7][9] Long-term Strategy - China's regulatory actions are not only focused on immediate concerns but also aim to secure its long-term strategic advantage in the rare earth sector [9] - The rise of China's rare earth industry has been a result of systematic efforts since 1957, leading to a tenfold increase in export volume over 15 years post-1990 [9]