Index
On February 17, 2022, the Shanghai Composite Index closed at 3468.04 points, up 0.06%; Shenzhen composite index closed at 13422.94 points, up 0.35%; The coal industry index closed at 2586.09 points, up 0.31%. The top three companies are: Power Investment energy, Pingdingshan Tianan Coal Mining Co.Ltd(601666) , Shanxi Coking Coal Energy Group Co.Ltd(000983) . The non-ferrous metals index closed at 5773.98 points, up 3.09%. The top five companies are: Jinzhou Jixiang Molybdenum Co.Ltd(603399) , Hunan Gold Corporation Limited(002155) , Sinomine Resource Group Co.Ltd(002738) , Tianqi Lithium Corporation(002466) , Western Region Gold Co.Ltd(601069) .
Comments
Nonferrous metals sector led the gains. Precious metals and energy metals led the rise.
In terms of gold, geopolitical risks have recently raised risk aversion and pushed up the price of gold. Since 2022, the situation in Ukraine has been fermenting, and geopolitical risks have reached a phased high. Historical experience shows that during the period of rising geopolitical war risk, gold often becomes a safe haven for global capital. The situation in Russia and Ukraine has increased the risk aversion of global investors, and the funds have been transferred from risk assets to risk averse assets, leading to the short-term rise of gold prices. In addition, the bottleneck of the US supply chain has not been significantly improved, service consumption has gradually recovered from the impact of the epidemic, and inflation may continue to run at a high level in the short term. Anti inflationary demand drives up gold prices. Related subjects: Hunan Gold Corporation Limited(002155) , Shandong Gold Mining Co.Ltd(600547) , Chifeng Jilong Gold Mining Co.Ltd(600988) .
In terms of energy metals, the profits of the industrial chain are rapidly transferred to the upstream, and the price is expected to remain high. From the ore side, the ore and Salt Lake capacity concentration is high, and the spot supply to the market is limited. The supply of lithium concentrate is tight. In 2022, the loose orders of marginal pricing will become more tight, the profits of the industrial chain will be quickly transferred to the upstream, and the premium at the resource side will be more obvious. In addition, with the recovery of the proportion of lithium iron phosphate, the demand for phosphoric acid of upstream raw materials will rise rapidly. It is suggested to pay attention to phosphorus chemical related enterprises. Related subjects: Yunnan Yuntianhua Co.Ltd(600096) , Sichuan Development Lomon Co.Ltd(002312) .
Industry dynamics
On the evening of February 16, Yunnan local leading chemical enterprise Yunnan Yuntianhua Co.Ltd(600096) (600096. SH) took the lead in announcing that the company signed the cooperation agreement for the whole industry chain project of new energy battery with Yuxi Municipal People’s government, Yunnan Energy New Material Co.Ltd(002812) (002812. SZ), Eve Energy Co.Ltd(300014) (300014. SZ) and Zhejiang Huayou Holding Group Co., Ltd. (hereinafter referred to as “Huayou holding”), It is agreed that all parties shall jointly mine mineral resources, carry out deep processing of minerals, and develop, produce and sell new energy batteries and upstream and downstream materials of new energy batteries. (Sina Finance)
Company dynamics
Contemporary Amperex Technology Co.Limited(300750) (300750): Hillhouse capital, Hongshang capital, Tencent investment, Sequoia Capital, Fidelity Fund, Warburg Pincus investment, Temasek, COSCO Shipping, KKR, GIC and capital group investigated our company on February 14, 2022.
Risk tip: the macro economy is less than expected and the demand for lithium iron phosphate is less than expected.
