The central tendency of rare earth prices continues to rise, and the global trend of rising antimony prices remains unchanged. The rare metals ETF Jiashi (562800) is expected to continue benefiting.

As of April 2, 2026, 10:36, the CSI Rare Metals Theme Index declined by 0.82%.
In terms of constituent stocks, gains and losses were mixed, with Tibet Mining and Sichuan Energy Power both hitting the 10% daily limit, and Rongjie Shares rising by 3.82%;
Yunlu Shares led the decline, with China Tungsten High-tech and Oriental Tantalum following suit.

Guojin Securities’ research report suggests that, from the beginning of the year to now, the median price of rare earths has been steadily rising, which may be closely related to supply-side policies released in 2024-2025, as the industry supply-side reforms continue to advance.
In 2025, exports decreased by 1% year-on-year, but since the beginning of 2026, exports have increased significantly, indicating that overseas inventory replenishment demand remains substantial.
The rare earth sector will continue to see valuation and performance growth, and 2026 is also a key year for resolving industry competition among major players.

Regarding tungsten, recently Ganzhou City announced a special operation to combat illegal activities related to mineral resources;
we also believe that, against the backdrop of increasing strategic reserves overseas, tungsten’s priority level may be relatively high;
the supply and demand fundamentals for tungsten are experiencing a strong resonance.
As for antimony, resource scarcity and reduced production at major overseas mines have led to a significant decline in global supply, while demand remains steadily increasing, maintaining an upward trend in global antimony prices.
High-growth or high-performance resource stocks are expected to benefit fully.

Data shows that as of March 31, 2026, the top ten holdings of the CSI Rare Metals Theme Index (930632) are Luoyang Moly, Northern Rare Earth, Salt Lake Shares, Huayou Cobalt, Ganfeng Lithium, Xiamen Tungsten, Tianqi Lithium, Zhongkuang Resources, China Tungsten High-tech, and China Rare Earth, with the top ten stocks accounting for a total of 57.87%.

The Jiashi (562800) Rare Metals ETF, tracking the CSI Rare Metals Theme Index, is a convenient tool for investing in the rare metals sector.

Off-market investors can also focus on investment opportunities in the rare metals sector through the Rare Metals ETF Connect Fund (014111).