On February 9, 2022, the Shanghai Composite Index closed at 3479.95 points, up 0.79%; Shenzhen composite index closed at 13531.32 points, up 1.55%; The coal industry index closed at 2532.98 points, down 0.08%. The top three companies were Yankuang energy, Shan Xi Hua Yang Group New Energy Co.Ltd(600348) and power investment energy. The non-ferrous metals index closed at 5459.68 points, up 2.98%. The top three companies are: Jinzhou Jixiang Molybdenum Co.Ltd(603399) , Sinomine Resource Group Co.Ltd(002738) , Tongling Nonferrous Metals Group Co.Ltd(000630) .
Comments
The base metal sector rose higher. The current steady growth policy has injected a strong impetus into the non-ferrous metal industry. Overseas, the hawkish information of the Federal Reserve at the interest rate meeting in January has been gradually digested by the market. Under the influence of the “Russia Ukraine incident”, the energy crisis in Europe has become more and more serious, and the constraints on the operating rate of overseas non-ferrous metal smelting capacity have further affected the global non-ferrous metal supply. In the past half a month, the prices of basic metals such as copper and aluminum have continued to rise, the operating rate of electrolytic aluminum in Yunnan, Inner Mongolia and other places has increased slightly, and the profitability per ton of aluminum has continued to move up. It is suggested to pay attention to corresponding investment opportunities. Related subjects: Aluminum Corporation Of China Limited(601600) , Yunnan Aluminium Co.Ltd(000807) .
The guarantee ability of iron ore resources is being paid attention to. On February 7, the guidance of the three ministries and commissions on promoting the high-quality development of the iron and steel industry was released. Compared with the guidance on promoting the high-quality development of the iron and steel industry (Exposure Draft) issued on December 31, 2020, the official draft added the expression of “stable resource supply” and adjusting the rhythm of carbon peak. The official draft of the opinion highlights the strengthening of China’s resource guarantee capacity-building. At present, with the deterioration of the international trade situation and the repeated epidemic, the overseas supply chain continues to be under pressure, the iron ore is facing the dilemma of supply shortage, and the risk of safe supply in the industrial chain is rising. With the resumption of work and production of iron and steel enterprises, the recent rapid recovery of iron ore prices has increased the pressure on iron ore imports. Therefore, the strategic reserve and price stability of iron ore are of great significance to the security of China’s industrial chain. Related subjects: Hunan Valin Steel Co.Ltd(000932) , Fushun Special Steel Co.Ltd(600399) , Fangda Carbon New Material Co.Ltd(600516) .
Industry dynamics
\u3000\u30001. Recently, the price department of the national development and Reform Commission and the price supervision and Competition Bureau of the State Administration of market supervision jointly interviewed relevant iron ore information enterprises and asked them not to fabricate and publish false price information or bid up prices. (National Development and Reform Commission)
2. On the afternoon of February 9, the economic operation regulation Bureau of the national development and Reform Commission will host a video conference to arrange the work of stabilizing the coal market price and interview some enterprises with falsely high prices. (interface News)
Company dynamics
Jinduicheng Molybdenum Co.Ltd(601958) (601958): the company achieved an operating revenue of 7973.827 million yuan, a year-on-year increase of 5.24%; The net profit attributable to the shareholders of the listed company was 47.12134 million yuan, a year-on-year increase of 158.89%.
Risk tip: the macro-economy is less than expected, and the release of electrolytic aluminum production capacity is less than expected.
