稀土股持續走強，稀土ETF基金、稀土ETF、稀土ETF易方達年內漲超15%
A股主要指數早盤集體上漲，盤面上，稀土永磁方向漲幅居前。
港股三大指數呈現高開高走行情，港股市場稀土股繼續走強，其中，中國稀土(0769.HK)漲超12%，該股已連續第三日大漲，累漲109%。
截至午盤，A股中科磁業20cm漲停，銀河磁體漲超12%，北礦科技、華宏科技、寧波韻升漲停，帶動稀土ETF基金漲4.02%，位居全市場ETF漲幅榜第一。此外，富國稀土ETF、稀土ETF易方達、華泰柏瑞稀土ETF漲超3.8%。年初至今，稀土ETF漲超15%。
目前市場上有4只跟蹤稀土產業指數ETF，其中，稀土ETF基金最新規模21.36億元，規模位居同類第一。
稀土永磁上漲，消息面上，相關機構指出，中國自4月實施的中重稀土出口管制(佔全球80%供應)，疊加緬甸地震對運輸的影響，導致海外企業高價搶購庫存，部分品種價格單月漲幅超200%。作爲不可替代的戰略資源，疊加我國主導定價權、出口管制擴大供需缺口等因素共振，未來看稀土將有望長期維持價格高位與供不應求態勢。
中信建投指出，受出口或逐步放鬆預期影響，市場上調稀土原料報價。該行表示，隨着出口許可發放，金屬出口逐步恢復，國內價格錨定海外高價明顯上漲，內外價差收斂以國內上漲方式進行。因此，後續稀土出口管制放鬆或對價格上漲呈助推作用，稀土板塊迎估值提升之後再迎利潤增厚雙擊。
華寶證券表示，稀土在國防、新能源、新材料、航空航天、電子信息等領域有着不可替代的地位，幾乎所有高科技武器核心部位都要用到，被稱爲“工業維生素”、“軍事的核心”。但因其資源分佈不均、提純加工難度大，導致價格長期居高不下。我國是全球稀土資源最豐富的國家，全球儲量佔比40%，全球產量佔比70%，且擁有全球最完整的稀土產業鏈（涵蓋開採、選礦、冶煉、分離、加工等環節），冶煉分離產能的全球佔比高達92.3%。2020年至2023年，美國從中國進口的稀土化合物和金屬佔到該國總進口量的70%。在此背景之下，2025年4月，我國商務部、海關總署宣佈對部分中重稀土相關物項實施出口管制，其中涵蓋了對航空電子設備領域至關重要的資源，將進一步擴大其全球供需缺口並再度推高價格。不可替代的戰略資源地位+我國主導定價權+出口管制擴大供需缺口，未來看稀土將有望長期維持價格高位與供不應求態勢。
招商證券認爲，稀土有望迎來全面上漲：近期看，因出口管制，2025年4月份稀土永磁出口量爲2627噸，環比下降51%，同比縮減45%，創近五年來稀土永磁歷史新低。預計5月出口依然較少。稀土出口管制逾兩月，海外車企原料庫存告急。預計隨着許可證陸續取得，海外補庫和備庫需求下，三四季度磁材出口將大幅提升。稀土配額管理趨嚴或導致冶煉分離產能出清，下遊需求短中期受益於海外補庫和備庫需求，長期有望受益於人形機器人和低空的發展，採選冶煉分離以及磁材企業有望受益利潤回升。
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