New military materials: the price of electrolytic cobalt picked up slightly. (1) The price of electrolytic cobalt this week was 523000 yuan / ton, a month on month increase of + 3.4%. The ratio of electrolytic cobalt to cobalt powder is 0.85, with a ring ratio of + 2.0%; The price ratio of electrolytic cobalt and cobalt sulfate was 4.73, with a ring ratio of + 1.0%. These two ratios show that the prosperity of the military industry this week is stronger than that of the manufacturing industry and new energy vehicles. (2) The price of carbon fiber this week was 186.8 yuan / kg, a month on month increase of + 0%. The gross profit is 63.43 yuan / kg, a month on month increase of + 0.3%. Both the price and gross profit are at a high level since 2020. (3) The prices of titanium and beryllium were the same as last week, and the price of rhenium was 22500 yuan / kg, a month on month increase of + 2.3%.
New materials for new energy vehicles: the price of praseodymium and neodymium oxide exceeded 1 million yuan / ton. (1) This week, the CIF price of Li2O 5% lithium concentrate in China has reached US $2710 / ton, an increase of + 0.7% month on month. (2) This week, the prices of electric carbon, industrial carbon and battery grade lithium hydroxide were 3813, 35500 and 309500 yuan / ton respectively, with a month on month ratio of + 4.0%, + 4.41% and + 3.7%. According to Pilbara’s announcement, the price of Q1 lithium concentrate in 2022 is expected to increase to USD 2600-3000 / ton, up 44% – 67% from Q4 in 2021. High lithium concentrate prices will continue to support the operation of high lithium prices. (3) The price of cobalt sulfate this week was 106000 yuan / ton, a month on month increase of + 1%. (4) This week, the prices of lithium iron phosphate, 523 and 811 cathode materials were 14100 yuan / ton, 3045 yuan / ton and 324500 yuan / ton respectively, with a month on month ratio of + 7.63%, + 8.9% and + 6.6%. The sharp rise in lithium iron phosphate was mainly due to the rise in the prices of raw materials lithium carbonate, phosphoric acid and iron phosphate. (5) This week, the price of praseodymium and neodymium oxide was 1.035 million yuan / ton, a month on month increase of + 8.4%. With the orderly release of China’s quotas and the limited increment of overseas mines, the price of praseodymium and neodymium oxide is expected to remain high.
New photovoltaic materials: the prices of mainstream varieties were flat month on month. (1) This week, the price of photovoltaic grade polysilicon was $32.70/kg, a month on month increase of + 0%. The price is still at a high level in recent six years. (2) EVA price this week was 18800 yuan / ton, up + 0% month on month, maintaining a high position since 2013. (3) This week, the coating price of 3.2mm photovoltaic glass is 25 yuan / m2, with a month on month increase of + 0%.
New nuclear power materials: the prices of mainstream varieties were flat month on month. (1) This week, the prices of zirconium oxychloride, sponge zirconium, hafnium oxide, zirconium silicate and zircon sand were 23000 yuan / ton, 235 yuan / kg, 4500 yuan / kg, 19050 yuan / ton and 17700 yuan / ton respectively, which were flat month on month.
The price of lithium cobalt oxide, a new material for consumer electronics, increased slightly. (1) On Thursday, the price of cobalt trioxide was 412500 yuan / ton, a month on month increase of + 0%. This week, the price of lithium cobaltate was 524 yuan / kg, a month on month increase of + 2%, mainly due to the high price of raw material cobalt lithium. (2) The price of silicon carbide this week is 8300 yuan / ton, a month on month increase of + 0%; This week, the prices of high-purity gallium, crude indium and refined indium were 2525, 1425 and 1545 yuan / kg respectively, with a chain comparison of + 0%, + 0% and + 0% respectively; On Tuesday, the price of germanium oxide was 6600 yuan / kg, a month on month increase of + 0%.
Other materials: platinum, rhodium and iridium prices rose and fell. (1) This week, the prices of 99.95% platinum, rhodium and iridium were 223, 4367.5 and 925 yuan / g respectively, with a month on month ratio of + 0.5%, + 9.1% and – 0.5%.
It is suggested to pay attention to the target: continue to be optimistic about the new metal materials sector in an all-round way. The high price of lithium concentrate is still good for enterprises with high self-sufficiency rate of lithium resources. It is recommended to pay attention to Tianqi Lithium Corporation(002466) , Youngy Co.Ltd(002192) , Ganfeng Lithium Co.Ltd(002460) ; The construction of a world-class Salt Lake industrial base in Qinghai has been mentioned again. China’s independent and controllable salt lake resources are of great strategic significance. It is suggested to pay attention to Qinghai Salt Lake Industry Co.Ltd(000792) , Keda Industrial Group Co.Ltd(600499) , Sunresin New Materials Co.Ltd Xi’An(300487) .
Risk warning. Risk of overvaluation; Risk of technology path change; Risks such as radical enterprise operation, deviation of strategy, governance failure, macro policy and liquidity adjustment.
