New military materials: Electrolytic Cobalt prices rose slightly. (1) The price of electrolytic cobalt this week was 536000 yuan / ton, a month on month increase of + 2.5%. The ratio of electrolytic cobalt to cobalt powder is 0.85, with a ring ratio of + 0.5%; The price ratio of electrolytic cobalt and cobalt sulfate was 4.76, with a ring ratio of + 0.7%. 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 was 58.91 yuan / kg, with a month on month ratio of – 7.1%. Both the price and gross profit were at a high level in the past 20 years. (3) The prices of titanium, rhenium and beryllium were the same as last week.
New materials for new energy vehicles: China’s electric vehicle production penetration hit another record high in January. (1) This week, the CIF price of li2o5% lithium concentrate in China has reached US $2710 / ton, unchanged month on month. (2) This week, the prices of electric carbon, industrial carbon and battery grade lithium hydroxide were 414000 yuan / ton, 389800 yuan / ton and 3500500 yuan / ton respectively, with a month on month ratio of + 7.1%, + 8.49% and + 12.4%. Due to seasonal factors, China’s electric vehicle production in January was 452000, with a month on month ratio of – 12.7%, but the penetration rate of China’s electric vehicle production in January reached 18.7%, another record high. The Secretary General of the passenger Federation said in mid February that the sharp rise in lithium prices would not seriously affect the development of medium Shanxi Guoxin Energy Corporation Limited(600617) vehicles. He was confident that the sales volume of new energy passenger vehicles would reach about 5.5 million in 2022, and continue to achieve a high growth of about 70%. (3) This week, the price of cobalt sulfate was 112000 yuan / ton, a month on month increase of + 5.7%. (4) This week, the prices of lithium iron phosphate, 523 and 811 cathode materials were 14300 yuan / ton, 325500 yuan / ton and 354500 yuan / ton respectively, with a month on month ratio of + 1.42%, + 6.9% and + 9.2%. (5) This week, the price of praseodymium and neodymium oxide was 1.095 million yuan / ton, a month on month increase of + 5.8%.
New photovoltaic materials: EVA prices rose slightly. (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) This week, the price of EVA was 19200 yuan / ton, a month on month increase of + 2.1%, 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: prices of mainstream varieties have risen. (1) This week, the prices of zirconium oxychloride, sponge zirconium, hafnium oxide, zirconium silicate and zircon sand were 23500 yuan / ton, 235 yuan / kg, 4500 yuan / kg, 19975 yuan / ton and 18637.5 yuan / ton respectively, with a month on month ratio of + 2.2%, + 0%, + 0%, + 4.9% and + 5.3%.
New materials for consumer electronics: the price of cobalt varieties has picked up. (1) On Thursday, the price of cobalt trioxide was 422500 yuan / ton, a month on month increase of + 2.4%. This week, the price of lithium cobaltate was 539 yuan / kg, a month on month increase of + 2.9%, mainly due to the high price of raw material cobalt lithium. (2) This week, the price of silicon carbide is 8600 yuan / ton, with a month on month increase of + 3.6%; This week, the prices of high-purity gallium, crude indium and refined indium were 2575, 1425 and 1545 yuan / kg respectively, with a chain comparison of + 2.0%, + 0% and + 0% respectively; On Tuesday, the price of germanium oxide was 6700 yuan / kg, a month on month increase of + 1.5%.
Other materials: platinum and rhodium prices rose and fell. (1) This week, the prices of 99.95% platinum, rhodium and iridium were 235, 4309.5 and 925 yuan / g respectively, with a month on month ratio of + 5.4%, – 1.3% and + 0%.
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.
