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原文標題：China cracks down on foreign companies stockpiling rare earths
原文連結：https://tinyurl.com/mr2ueaza
發布時間：Fri, August 15, 2025 at 8:35 PM
記者署名：Joe Leahy and Ryan McMorrow in Beijing
原文內容：

China has told foreign companies not to hoard rare earths as fears about
Beijing’s export curbs drive up demand for the metals vital in a range of
critical technologies.

中國已告訴外國企業不要囤積稀土，因為外界擔心北京的出口限制措施推高了這些對各種
關鍵技術至關重要金屬的需求。

Beijing is warning buyers they are at risk of greater supply restrictions if
they stockpile rare earths and derived products such as magnets used in
electric motors, according to two people familiar with the matter.

據兩位知情人士透露，北京警告買家，如果他們囤積稀土及其衍生產品（如用於電動機的
磁鐵），將面臨更嚴格的供應限制。

The other person said Chinese authorities were deliberately limiting approved
export volumes to prevent foreign stockpiling. “This will be a leverage point
 from now on,” they said.

另一位人士表示，中國當局正故意限制批准的出口數量，以防止外國囤貨。他說：「這將
從現在起成為一個槓桿點。」

China dominates the production of rare earths, processing about 90 per cent of
 the world’s supply and making 94 per cent of permanent magnets. It has
weaponised that control over the vital industry in the trade war with the US.

中國在稀土生產上居於主導地位，加工了全球約 90% 的供應，並生產了 94% 的永磁體。
在與美國的貿易戰中，中國已將對這一關鍵產業的控制武器化。

Beijing’s efforts to prevent companies from building up large inventories,
which would give them more flexibility to respond to shortages and price
fluctuations, show its determination to maintain maximum leverage in a sector.

北京防止企業建立龐大庫存的努力，因為庫存會讓外企在短缺和價格波動中更有靈活性，
這顯示了中國決心保持在該產業的最大槓桿作用。

China placed seven categories of medium and heavy rare earths on an export
control list in April in response to US President Donald Trump’s tariffs.
That move triggered shortages across industries, particularly automobiles.

中國在四月將七類中重稀土列入出口管制清單，以回應美國總統川普的關稅。這一舉措引
發了各產業的短缺，特別是汽車業。

Beijing controls the output of rare earths through mining and processing
quotas. Only two state-owned companies were allocated quotas last year.

北京透過採礦與加工配額來控制稀土產量。去年僅有兩家國有企業獲得配額。

The problem has led some western companies to shift production of finished
products to China — a result that suits Beijing as it seeks to increase
control of the supply chain.

這個問題導致一些西方公司將成品生產轉移到中國 —— 這正合北京之意，因為它希望進
一步掌控供應鏈。

Louis Pinkham, CEO of US-based Regal Rexnord Corp, said the company had moved
some production to China to assemble rare earth magnets into products locally
and ease their export.

美國 Regal Rexnord 公司的 CEO Louis Pinkham 表示，公司已將部分生產轉移到中國，
在當地將稀土磁鐵組裝成產品，以便於出口。

心得/評論：

中國政策：北京禁止外企囤積稀土與磁體，並透過出口配額、逐筆審查來限制外國公司的
進貨。

全球格局：中國控制全球 90% 稀土加工、94% 永磁體，並將此作為貿易戰談判的戰略籌
碼。

效果：美歐企業因進口受限，被迫將部分生產遷往中國，反而強化了中國對產業鏈的掌控
。

短期影響：限制措施已造成汽車、電機等產業短缺與價格波動。

長期風險：美國與盟國可能加速尋找替代來源或回收技術，以減低對中國的依賴。

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※ 作者: TyuzuChou 2025-08-16 10:48:52
※ 文章代碼(AID): #1ed_6MER (Stock)
※ 文章網址: https://www.ptt.cc/bbs/Stock/M.1755312534.A.39B.html