2026年2月26日稀土价格一览 | | | 中钨在线稀土产品报价表 | | | | | --- | --- | --- | --- | --- | --- | | | | 2026年2月26日 | | | | | 产品名称 | | 规格/含量/牌号 | 中钨在线报价 | 涨跌 1 | 車位 元/吨 | | | 氧化铜 | La2O3/TREO 99.5-99.9% | 4,700.00 | | | | | 氧化镇 | Eu2O2/TREO 99.95-99.99% | 172.00 | l | 元/千克 | | を 稀 | 氧化错 | Pr6O11/TREO 99.0-99.9% | 950,000.00 | [ | 九/吨 | | + | 氧化紋 | Nd>O3/TREO 99.0-99.9% | 945,000.00 | 1 | 元/吨 | | | 氧化墙致 | (Nd2O3+Pr6O11)/TREO≥75.0% | 890,000.00 | - | 元/吨 | | | 错效金属 | Pr/TREM 20-25% Nd/TREM75-80% TREM298.5% | 1.080.000.00 | - | ...

Industry Overview - The rare earth magnetic materials industry saw an increase of 8.84% in the week before the holiday, outperforming the benchmark by 8.48 percentage points [4] - The industry valuation (TTM P/E ratio) rebounded to 86.39x, currently at 93.3% of its historical percentile [4] Price Trends - Rare earth concentrate prices showed a steady increase, with the average price of mixed carbonate rare earth ore remaining stable, while imported monazite prices rose by 6.72% [5] - The price of praseodymium and neodymium saw significant increases, with praseodymium oxide prices up by 12.21% and praseodymium metal prices up by 10.38% [5] - Dysprosium and terbium prices also increased, with dysprosium oxide prices rising by 5.73% and terbium oxide prices by 3.49% [5] - The price of sintered neodymium-iron-boron magnets continued to rise, with N35 and H35 grades increasing by 1.73% and 1.23% respectively [5] Supply and Demand Dynamics - The supply side remains stable with upstream production normal during the holiday, while downstream neodymium-iron-boron enterprises are on break, leading to reduced market consumption [8] - Post-holiday, there is an expectation for increased raw material demand as production resumes in downstream sectors [8] - The demand for new energy vehicles is experiencing a marginal decline, while wind power installations are expected to release some demand [8] Investment Recommendations - The industry maintains an "overweight" rating, supported by high valuation levels and potential policy easing post-holiday [9] - Focus on upstream rare earth resource companies due to policy support and stable pricing trends, which may lead to valuation premiums and stable profits [9] - Downstream magnetic material companies are expected to see profit recovery, particularly those with strong customer structures and new growth opportunities [9]

Core Viewpoint - Recent price increase themes have emerged in the market, particularly in small metals, dyes, and electronic fabrics, leading to significant gains in related sectors such as non-ferrous metals and chemicals [1] Small Metals - The small metals sector saw substantial gains, with companies like Zhangyuan Tungsten Industry, Xianglu Tungsten Industry, and Jintan Tungsten Co. experiencing notable stock price increases [3] - Specific price increases for tungsten products were reported, with prices for praseodymium-neodymium oxide and neodymium metal rising by approximately 50,000 yuan/ton, and ammonium paratungstate (APT) reaching 1 million yuan/ton, reflecting a 49.3% increase since the beginning of the year [5][6] Dyes - The dye sector also experienced significant stock price increases, with companies such as Cihua Co. and Huatai seeing their stock prices rise by over 10% [6][8] - Zhejiang Longsheng announced a price increase for certain disperse dyes due to rising raw material costs, with prices increasing by approximately 5,000 yuan/ton [9] Electronic Fabrics - The electronic fabric sector saw a surge, with International Composite Materials hitting a 20% limit up, and companies like China Jushi and Honghe Technology also reaching their price limits [1][9] - A report from Huatai Securities indicated that leading fiberglass companies have raised prices for electronic fabrics, reflecting a trend of supply constraints and increasing demand, particularly for high-end electronic fabrics [9][10]

Core Viewpoint - Recent price increase themes have emerged in the market, particularly in small metals, dyes, and electronic cloth, leading to significant gains in related sectors such as non-ferrous metals and chemicals [1] Group 1: Small Metals - The small metals sector saw substantial gains, with companies like Zhangyuan Tungsten Industry, Xianglu Tungsten Industry, and Jintan Co. experiencing notable stock price increases [3] - Specific price increases for tungsten products were reported, with prices for 65% black tungsten concentrate rising by 48.9% and 65% white tungsten concentrate by 49.0% since the beginning of the year [5] - The market for tungsten is facing supply constraints, with expectations of increased demand post-Spring Festival, leading to improved short-term transaction volumes [6] Group 2: Dyes - The dye sector also experienced significant stock price increases, with companies like Vine Chemical and Huatai Group seeing notable gains [8] - Zhejiang Longsheng announced price hikes for certain disperse dyes due to rising costs of reducing agents, with prices increasing by approximately 5,000 yuan per ton [9] Group 3: Electronic Cloth - The electronic cloth sector saw a surge, with International Composite Materials hitting a 20% price increase limit, and companies like China Jushi and Honghe Technology also reaching their price limits [9] - A report indicated that leading fiberglass companies have raised prices for electronic cloth, reflecting a trend of supply constraints spreading from high-end to regular products [9][10] - The demand for high-end electronic cloth is expected to grow due to increased requirements for low dielectric constant and low thermal expansion coefficient materials in AI servers and high-frequency circuit boards [10]

来源：中钨在线 消息方面：据高检网报道，2月4日，最高人民检察院检委会委员、经济犯罪检察厅厅长杜学毅表示， 2026年，经济犯罪检察部门将深入贯彻落实党的二十届四中全会提出的"扩大高水平对外开放""维护多 边贸易体制"的部署要求，依法惩治走私犯罪，加强对走私稀土等重大敏感案件的督办指导，加强缉私 司法协作，服务海南自贸港封关运作，更加有力地维护国家主权、安全和发展利益。 版权及法律问题声明 本文信息由中钨在线®根据各方公开的资料和新闻收集编写，仅为向本公司网站(www.ctia.com.cn， news.chinatungsten.com)、微信公众号关注者提供参考资料。任何异议、侵权和不当问题请向本公众号 反馈，我们将立即予以处理。未经中钨在线授权，不得全文或部分转载，不得对文件所载内容进行使 用、披露、分发或变更；尽管我们努力提供可靠、准确和完整的信息，但我们无法保证此类信息的准确 性或完整性，本文作者对任何错误或遗漏不承担任何责任，亦没有义务补充、修订或更正文中的任何信 息；本文中提供的信息仅供参考，不应被视为投资说明书、购买或出售任何投资的招揽文件、或作为参 与任何特定交易策略的推荐；本文也不得用作任 ...

Group 1 - The praseodymium-neodymium market is experiencing increased activity due to tight supply expectations and proactive inventory replenishment by major magnetic material manufacturers, leading to a significant price increase for praseodymium-neodymium products [3] - On February 9, the average price of praseodymium oxide rose to 805,000 yuan per ton, while the average price of praseodymium metal reached 980,000 yuan per ton [3] - Guotou Securities predicts that supply constraints from the whitelist and quota indicators will continue into 2026, with stable growth in both domestic and international demand, potentially initiating a new inventory replenishment cycle and supporting an increase in rare earth prices [3] Group 2 - The trading price of rare earth concentrates from Baotou Steel and Northern Rare Earth increased by 2.4% quarter-on-quarter, contributing to the upward shift in rare earth price levels [4]

Core Viewpoint - The stock of Jinli Permanent Magnet (金力永磁) has risen over 7%, driven by tight supply expectations and increased purchasing activity from major magnetic material manufacturers, leading to a bullish sentiment in the market for praseodymium and neodymium [1] Group 1: Market Dynamics - The market for praseodymium and neodymium has seen a significant increase in inquiry activity, contrasting with the typical low transaction volume seen at the end of the year [1] - On February 9, the average price of praseodymium oxide rose to 805,000 yuan per ton, while the average price of praseodymium metal reached 980,000 yuan per ton [1] Group 2: Supply and Demand Factors - Guotou Securities forecasts that supply will be rigidly constrained by whitelist and quota indicators in 2026, with stable growth in both domestic and international demand, potentially initiating a new round of inventory replenishment [1] - Huayuan Securities notes that tight supply conditions and policy support are sustaining the current market, with ongoing shortages in the spot supply of praseodymium oxide and low willingness from upstream holders to sell at lower prices [1] Group 3: Price Trends - Downstream magnetic material companies have shifted from just-in-time purchasing to stockpiling, indicating a change in demand dynamics [1] - Baotou Steel (包钢股份) and Northern Rare Earth (北方稀土) reported a 2.4% quarter-on-quarter increase in the trading price of rare earth concentrates, supporting the upward movement of rare earth price levels [1]

Core Viewpoint - The stock of Jinli Permanent Magnet (06680) has risen over 7%, driven by tight supply expectations and increased purchasing activity in the rare earth market, particularly for praseodymium and neodymium products [1] Group 1: Market Dynamics - A separation plant's year-long shutdown has led to sustained tight supply expectations in the rare earth market [1] - Major magnetic material manufacturers are actively restocking, contributing to heightened market activity and a shift from typical year-end quietness [1] - On February 9, prices for praseodymium and neodymium products saw significant increases, with praseodymium oxide averaging 805,000 yuan/ton and praseodymium metal averaging 980,000 yuan/ton [1] Group 2: Supply and Demand Outlook - Guotou Securities anticipates that rigid constraints from whitelist and quota indicators will affect supply in 2026, with stable growth in both domestic and international demand expected [1] - A new round of restocking may begin, with optimism for rising rare earth prices in 2026 [1] - Huayuan Securities notes that tight supply and policy support are sustaining the current market, with ongoing shortages in praseodymium oxide supply and low willingness from upstream holders to sell at lower prices [1] Group 3: Price Trends - Downstream magnetic material companies are shifting from essential purchasing to stockpiling, indicating a change in demand behavior [1] - Baogang Group and Northern Rare Earth reported a 2.4% quarter-on-quarter increase in rare earth concentrate transaction prices, supporting the upward movement of rare earth price levels [1]

2026年2月6日稀土市场行情 本周国内稀土市场整体行情波动较大，在诸多不确定性因素的影响下，主流轻重稀土产品价格走势有所 不同，成交量仍有待提高。 轻稀土市场上，镨钕价格呈现先大涨后理性回调再反弹的态势：周初，受上月底镨钕价格明显上升的影 响，供应商报价继续上调；周中，由于下游用户对高价货源抵触情绪升高与前期利好支撑减弱，产品报 2026年2月6日稀土价格一览 | | | 中钨在线稀土产品报价表 | | | | | --- | --- | --- | --- | --- | --- | | | | 2026年2月6日 | | | | | 产品名称 | | 规格/含量/牌号 | 中钨在线报价 | 涨跌 | 東位 | | | 氧化铜 | La2O3/TREO 99.5-99.9% | 4.700.00 | 1 | 元/吨 | | | 氧化镇 | Eu2O3/TREO 99.95-99.99% | 172.00 | - | 元/千克 | | 轻 凝 | 氧化错 | Pr6011/TREO 99.0-99.9% | 820,000.00 | 12,000 | 元/吨 | | + | 氧化紋 | Nd2O3/TREO ...

Investment Rating - The industry investment rating is maintained at "Overweight" [3][44]. Core Insights - The rare earth magnetic materials industry has shown a strong performance, with a 2.95% increase this week, outperforming the benchmark (CSI 300) by 3.52 percentage points [5][12]. - The valuation of the industry (TTM P/E) has rebounded to 82.16x, currently at the 91.5% historical percentile [5][12]. - The prices of rare earth concentrates have expanded, with significant increases in praseodymium and neodymium prices, while dysprosium and terbium prices have shown fluctuations [6][9][19]. - The supply side of rare earths is tight, with limited availability of oxides, while the demand remains stable, indicating that prices are expected to remain strong in the short term [42][43]. Summary by Sections Industry Performance - Over the past month, the industry has shown a relative return of 13%, a 3-month return of -4%, and a 12-month return of 65% [4]. - Absolute returns for the same periods are 18%, -1%, and 90% respectively [4]. Price Trends - Domestic mixed rare earth carbonate prices increased by 9.3%, while prices for Sichuan and Shandong fluorocarbon cerium ores rose by 7.89% and 9.09% respectively [9][12]. - The average price of praseodymium oxide rose by 8% to 675,000 CNY/ton, and the average price of praseodymium metal increased by 7.06% to 811,000 CNY/ton [16][19]. - The average price of neodymium-iron-boron sintered blocks increased by 9.36% for N35 and 6.38% for H35 [38]. Investment Recommendations - The report suggests continued focus on upstream rare earth resource companies due to market sentiment recovery and strategic value positioning [44]. - Downstream magnetic material companies are expected to see profit recovery as rare earth prices rise, with a recommendation to pay attention to companies with strong customer structures and future growth potential, such as Jinli Permanent Magnet [10][44].