Index
On February 7, 2022, the Shanghai Composite Index closed at 3429.58 points, up 2.03%; Shenzhen composite index closed at 13456.65 points, up 0.96%; The coal industry index closed at 2401.50 points, up 4.09%. The top three companies are Yankuang energy, China Coal Energy Company Limited(601898) , Jizhong Energy Resources Co.Ltd(000937) . The non-ferrous metals index closed at 5292.58 points, up 3.09%. The top three companies are: China Minmetals Rare Earth Co.Ltd(000831) , China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) , Guocheng Mining Co.Ltd(000688) .
Comments
The Ministry of industry and information technology recently released the first batch of total control indicators for rare earth mining and smelting separation in 2022. Among them, the total control indicators for rare earth mining and smelting separation were 100800 tons and 97200 tons respectively, with a year-on-year increase of 20%, the growth rate being the same as that in the same period of last year. Among them, the total mining quota of China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) rock ore rare earth is 60210 tons, with a year-on-year increase of 36.44%, and the proportion of mining quota has increased from 52.54% in 2021 to 59.73%; China rare earth group ( China Minmetals Rare Earth Co.Ltd(000831) , formed by the reorganization of China rare earth and south rare earth group) has a total quota of 29100 tons of rock and mineral rare earth, with a year-on-year increase of 2.54%, accounting for 28.87%. The mining indicators of other groups are basically the same. At present, the rare earth industry has changed at the level of supply and demand. China’s rare earth supply elasticity is decreasing, and the supply pattern is gradually becoming orderly and highly centralized, as well as the global supply is gradually stabilizing. In terms of demand, under the background of global low-carbon and electrification, new energy vehicles, energy efficiency improvement of industrial motors, wind power, Siasun Robot&Automation Co.Ltd(300024) have replaced the past consumer electronics and become the main driving factor of the demand for rare earth permanent magnets, and the magnitude of demand has increased greatly. At present, restricted by resource conditions, the increase of rare earth supply mainly comes from light rare earth, China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) will continue to fully benefit from the simultaneous rise of volume and price in the industry. Under the background of the accelerated expansion of the demand for rare earth magnetic materials, the leaders of high-performance magnetic materials enterprises are relying on high-tech barriers to enhance the bargaining power of the downstream, and the moat is gradually deepening. Related subjects: China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) , China Minmetals Rare Earth Co.Ltd(000831) , Jl Mag Rare-Earth Co.Ltd(300748) .
Industry dynamics
1. On February 7, the Ministry of industry and information technology and other three departments issued guidance on promoting the high-quality development of the iron and steel industry, proposing to strive to complete the ultra-low emission transformation of more than 80% of the iron and steel production capacity by 2025, reduce the comprehensive energy consumption per ton of steel by more than 2%, and reduce the intensity of water resources consumption by more than 10%, so as to ensure that the carbon peak will be reached by 2030. New steel production capacity is strictly prohibited. Orderly development of electric furnace steelmaking. Further promote green and low-carbon. Vigorously develop intelligent manufacturing. (China Securities Network)
Company dynamics
Guangdong Huafeng New Energy Technology Co.Ltd(002806) (002826): it is estimated that the net profit attributable to shareholders of listed companies will reach 34 million yuan in 2021, an increase of 111%.
Risk tip: the macro economy is lower than expected, and the growth rate of rare earth downstream industry is lower than expected.
