太阳集团城娱8722稀土行情简报1705期（总第171期）02-13~02-17

JL MAG Rare-earth Industry Price Briefing02-13~02-17

2017年第7周

Week 7, 2017

1. 重要新闻简报Briefing of Important News

本周稀土市场价格镨钕铽均有小幅上涨，镝铁价格相对稳定。亚洲金属网价格:镨钕金属352-355元/KG，镝铁合金价格1230-1250元/KG，铽金属价格3930-3980元/KG。

This week the market price of PrNd and Tb had increased slightly and the price of DyFe was relatively stable. Prices from Asian Metal of this weekend presented: PrNd 352-355RMB/KG, DyFe 1230-1250RMB/KG, Tb metal 3930-3980RMB/KG.

今日稀土市场大体持稳运行,镨钕报价仍高企。部分市场人士表示，基本面自年底收储以来逐步好转，下月开始稀土打黑进入八部委地方检察阶段，短期内对黑稀土供应的抑制作用可以预期，而近期环保检查之风有进一步收紧迹象，多方政策利好持续发力下，市场对后市行情看好在意料之中。

Currently the rare earth market was running steadily but the price of PrNd was still high. Part of the market participants indicate that the fundamentals have gradually improved since national purchasing and storage at the end of the year, and next month, the crackdown on illegal rare earth will go into the local government procuratorial stage which is appointed by eight ministries. The supply of rare earth will be inhibited in short-term which can be expected, and along with the tightened environmental inspection, and the continuous force of multi-stakeholder policy; it is no doubt that the further rare earth market is quite promising.

2.业内人士分析Analysis of Professional Insiders

2017年春节过后，稀土金属价格持续上行，金属镨钕节后至今价格已经上涨6%。市场人士也看好稀土2017年行情。一位稀土行业分析人士告诉记者，价格上涨反映是近期以来稀土行业在打黑、收储与下游需求三方面都陆续发力。尤其是去年的八部门联手在全国开展打击稀土违法违规行为专项行动，已经在各地陆续取得不错成效，在供给侧形成了有效制约，给稀土价格上涨提供了有力支撑.

After the spring festival in 2017, the price of rare earth metals continued upward and the price of metal PrNd have risen 6% till now. The market participants are also quite optimistic on the market in 2017. One of the rare earth analysts said that the price increase is the outcome of crackdown on illegal rare earth mine, national purchasing & storage as well as downstream demand. Especially last year, the eight ministries jointly launched a national campaign to combat the rare earth violations, and achieved good effects in many regions, which has formed an effective supply-side constraints and provide strong support on the price increase.

海关统计数据显示，此前稀土贱卖问题比较严重。针对这一问题，2016年12月，工信部、公安部等八部门联手，在全国开展打击稀土违法违规行为专项行动。行动要求，在2016年12月到2017年4月，严厉打击稀土非法开采、整治以“综合利用为名"变相加工非法矿产品、严格规范稀土产品交易、追查低价出口稀土产品来源、检查地方监管职责落实情况。此后，江西、广东、福建、上海、甘肃、山东、广西、内蒙古等多省开展了不同程度的打击稀土违法违规行为专项行动。

Customs statistics shows that the sell at a sacrifice on rare earth is quite serious. Aim at this problem, the MIIT, the MPS and other eight departments jointly launched a national special action to combat illegal acts campaign of rare earth in December 2016. The action requirements that from December 2016 to April 2017, strictly combat the illegal exploitation of rare earth, punish the disguise of illegal minerals, strictly regulate the trading of rare earth products, trace the root of export rare earth products with low price, check the implementation of local regulatory responsibility. Since then, Jiangxi, Guangdong, Fujian, Shanghai, Gansu, Shandong, Guangxi, Inner Mongolia and other provinces have carried out different levels of special action against rare earth violations.

广发证券分析称，随着全国各地陆续推进打击稀土违法违规行为专项行动，年后稀土价格出现小幅上涨，而随着打黑的深入开展，黑稀土的供给有望持续下降，稀土价格有望逐步上涨。同时，黑稀土导致地方环境污染问题严重，环保督查的从严也将迫使部分高污染产能的出清，有效整顿行业秩序，实现供给收缩和整个行业的结构调整。

GF securities analysts said that with the national efforts to combat the rare earth violations, the price of rare earth rose after the year and with the development of crackdown on the illegal rare earth, the illegal supply is expected to continue to decline and rare earth prices are expected to rise. At the same time, the illegal rare earth causes serious environmental pollution problem, the strict supervision of environmental protection will force the clearing of some high pollution capacity, to effectively rectify the industry order and achieve supply shrinkage as well as the restructuring of the whole industry.

广发证券还表示，去年底各生产厂商均经历去库存的过程，库存水平较低，而春节后稀土下游厂家陆续开工，市场下游需求逐步恢复，厂家逐步增加生产采购量、补充原材料库存，而国储收储后现货库存量下降。因此，供需结构有所改观，直接推动稀土价格上涨。稀土国储招标总量2000余吨，招标价格比上次总体上浮2%-8%，交率98%以上。其中氧化镨钕招标价格26万元/吨左右，接近市场主流价格，招标数量1300吨。此次国储收储的完成，可能将在短期内拉动市场的需求，改善目前的供需失衡状态，提振稀土市场信心。

GF securities also said that at the end of last year manufacturers experienced the process of consuming inventory, so the current inventory level is low. And after the spring festival, the rare earth manufacturers start operation, the demand in the downstream market gradually recovery. Manufacturers will increase in production purchased quantity and supplementary raw materials inventory, while after national storage, the spot stocks decline. Therefore, the structure of supply and demand has improved, which directly drive the increase of rare earth price. The bidding price of rare earth national grain storage is more than 2000 tons and it is 2 % -8 % higher than the previous one but the turnover ratio is more than 98 %. Among them, the bidding price of oxidation PrNd is around 260,000 RMB/T, which is close to the mainstream market price with bidding quantity of 1300 tons. The completion of the national purchasing and storage may stimulate demand in the market in the short term, improve the current imbalance between supply and demand and boost confidence in the rare earth market.

3.趋势图（参考亚洲金属网）Tendency Chart (refer to Asian Metal)

2017年02月17日

Feb.17th, 2017

提示：以上信息仅供参考！

Notes: the information above is for reference only!