能源金属行业动态报告:供需、政策、战略三重奏再绎 稀土板块配置价值突出

中信建投证券
Mar 01

核心观点稀土:为遏制日本“再军事化”商务部继续出台对日稀土出口管制措施,将20 家日本实体列入出口管制管控名单,将20 家日本实体列入关注名单,稀土战略价值重申。供需层面,短期供给端持续紧张,缅甸北部冲突不断,供给端扰动增多,国内部分冶炼分离企业存在阶段性减产情况,市场流通货源偏紧,国内新配额制度下,将进口矿及冶炼纳入配额管理,长期供给弹性下降。需求端旺季降至,终端客户二季度订单陆续签订,国内下游...

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