头条-美国如何打破中国在稀土的领导地位并获利20250915

美国将如何打破中国在稀土领域的主导地位——以及如何从中获利 Chinadominates therareearth market,controllingabout 85%ofglobalprocessing capacity.The Department ofDefense has aplan torectifythat.中国主导稀土市场，控制约85%的全球加工能力。美国国防部有一项计划要纠正这一局面。 ByAlRoot作者：Al RootFollow UpdatedSept 12,2025,11:50 amEDT/OriginalSept 12,2025,1:30amEDT更新于2025年9月12日，美国东部时间上午11:50/原始发布时间2025年9月12日，美国东部时间凌晨1:30 Neodymium,amagnetic chemical element with thesymbol Nd,insolidstate.Itispartoftherareearth group,used inthetechnology industry.-GettyImages 钕，一种固态的磁性化学元素，符号为Nd。它属于稀土元素，用于科技行业。-GettyImages Chinahas weaponized rare earth minerals.The U.S.isfinally fighting back.Forinvestors,one company stands out as apotential winner. 中国已将稀土矿物武器化。美国终于开始反击。对投资者而言，有一家公司在潜在赢家中脱颖而出。 The17 rare earth elements,with names likeneodymium,cerium,lanthanum,andpraseodymium,aren’t as well known as copper and industrial metals,but they aregettingfar more attention these days.They are used tomake catalytic converters,refineoil,and polish glass,among other uses.But they’re really about magnets,which accountformore than 40%ofthe totalrare earth demand.Those magnets are used ineverythingfrom the iPhone and electric-vehicle batteries towind turbinesand F-35fighterjets. 17种稀土元素，如钕（neodymium）、铈（cerium）、镧（lanthanum）和镨（praseodymium），不像铜和工业金属那样为人熟知，但如今受到的关注远多于以往。它们用于制造催化转换器、精炼石油和抛光玻璃等多种用途。但它们的关键在于磁体，磁体占稀土总需求的40%以上。这些磁体被用于从iPhone和电动汽车电池到风力涡轮 机和F-35战斗机的各种设备中。 Whilethe minerals aren’t truly rare—they get their name from the factthat they arerarelyfound inlarge,concentrated deposits—they are essential. 虽然这些矿物并不真正稀有——它们之所以得名，是因为很少以大规模、富集的矿床形式出现——但它们却至关重要。 Thatfactalone would make China’s dominance ofthe market—it controls about 85%ofglobalprocessing capacity—concerning.That China has also been willing touse itsnearmonopolyas aweapon against the U.S.ratchets that concern allthe way up toworrisome. 仅这一点就足以令人担忧中国对市场的主导地位——中国控制着约85%的全球加工能力。再加上中国愿意将其近乎垄断的地位作为对美施压的武器，这种担忧就进一步升级为令人不安。 Asfarback as 2011,China slashed itsexport quotas on rare earths by more than halfoveradispute with Japan,sending prices soaring,and then threatened furtherrestrictionsinresponse totrade tensions during the first Trump administration.Thisyear,China held up export licenses,leading Ford Motor,General Motors,Tesla,andotherstowarn ofplant shutdowns and restricted production.The worst-case scenariowasaverted when the two countries reached an agreement inGeneva inMay,but theepisodedemonstrated just how exposed the U.S.istoChina’s manipulation. 早在2011年，中国就因与日本的争端将稀土出口配额削减了一半以上，导致价格飙升，随后在特朗普政府首次任期内又在贸易紧张局势下威胁进一步限制。今年，中国拖延了出口许可证的发放，导致福特、通用、特斯拉等公司警告可能关厂并限制产量。最坏的情况在两国于五月在日内瓦达成协议时得以避免，但这一事件表明美国在多大程度上易受中国操纵的影响。 Untenablesituations have away offueling action.Inearly July,the Department ofDefensesent shock waves through the critical-minerals industry,striking arare earthmagnetdeal with alittle-known company called MP Materials.MP isarare earth rarity—aU.S.-based producer that owns amine,processing plants,and magnet factories—andthe deal,which included alarge investment from the U.S.government,apricefloor,and volume guarantees,was agame changer. 不可持续的局面往往会推动采取行动。今年七月初，国防部在关键矿产行业掀起震动，与一家名为MP Materials的鲜为人知的公司达成稀土磁体交易。MP是稀土领域的稀有品——一家总部位于美国、拥有矿山、加工厂和磁体工厂的生产商——该交易包括美国政府的大额投资、价格底线和数量保障，堪称改变游戏规则。 MP’sstock has more than doubled since the deal was announced on July 10,asinvestorspriced inwhat are essentially minimum revenue guarantees forthe company—butitmay well have more upside.More important,the agreement isthe first step bytheU.S.tobuild rare earth independence. 自7月10日宣布交易以来，MP的股价已上涨超过一倍，投资者将这笔交易视为对公司基本的最低收入保障——但其上涨空间可能远不止于此。更重要的是，这项协议是美国迈向稀土独立的第一步。 Itwasan“absolutely brilliant way tobreak the back ofChinese mercantilist policies,”saysCanaccord analyst George Gianarikas.”Now there isroom forthe U.S.rare earthindustrytogrow.” Canaccord分析师George Gianarikas表示：“这是一个‘绝对巧妙的方式，打击中国重商主义政策的脊梁’。现在美国稀土产业有了成长的空间。” Chinadidn’t always dominate the rare earth business.Inthe mid-1980s,the U.S.hadalmosthalfofglobal mine production,while China was an afterthought.Now,itcontrols85%ofproduction and has de facto control over the industry.“You can prettymuchdictate the marketplace,”says Michael Silver,CEO ofAmerican Elements,adistributorofadvanced materials,including rare earths.“The economies ofscale thatcomefrom being really big make itimpossible foranyone tocompete.” 中国并非一直主导稀土行业。上世纪80年代中期，美国占全球矿产产量近一半，而中国几乎不被重视。现在，中国控制着85%的产量，并对该行业拥有事实上的控制权。“你几乎可以支配整个市场，”美国高端材料分销商American Elements首席执行官MichaelSilver表示，该公司销售包括稀土在内的先进材料。“由真正庞大规模带来的规模经济使任何人都不可能与之竞争。” PartofChina’s rapid expansion came from itswillingness tobuild mines and processingplantswithout the permitting and red tape that would berequired inthe U.S.But itssuccessultimately was earned the old-fashioned way:by awillingness tosell itswaresatprofit margins that no Western company would accept.Consider Shenghe ResourcesHolding,apublicly traded Chinese rare earth producer whose largest shareholder istheChinesegovernment.Ithas generated anet income margin ofabout 4%over the pastdecade,about halfthat ofAust