Index
On February 23, 2022, the Shanghai Composite Index closed at 3489.15 points, up 0.93%; Shenzhen composite index closed at 13549.99 points, up 1.90%; The coal industry index closed at 2708.95 points, down 0.32%. The top three companies are: Shanxi Meijin Energy Co.Ltd(000723) , Gansu Jingyuan Coal Industry And Electricity Power Co.Ltd(000552) , Wintime Energy Co.Ltd(600157) . The non-ferrous metals index closed at 5887.25 points, up 0.50%. The top three companies are: Anhui Xinbo Aluminum Co.Ltd(003038) , Jixiang shares, Guangdong Xianglu Tungsten Co.Ltd(002842) .
Comments
More and more attention has been paid to the guarantee ability of iron ore resources. On February 23, in view of the recent abnormal situation that the supply and demand of the iron ore market was generally stable and the port inventory continued to rise to a multi-year high, but the price rose sharply, the national development and Reform Commission and the State Administration of market supervision jointly held a special meeting to study the prevention of excessive hoarding of iron ore. In addition, the official draft of the guidance of the three ministries and commissions on promoting the high-quality development of the iron and steel industry issued on February 7 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) .
Rare earth prices continued to hit record highs, and related concept stocks rose recently. In the short term, although the rare earth mining and smelting indicators have increased in 2022, the overall output is difficult to expand in a large amount in a short time, and the tight supply side is difficult to effectively alleviate. In the long run, under the dual carbon policy, the rapid development of emerging fields such as wind power and new energy vehicles will lead to a strong demand for rare earths in the future. Under the tight balance of supply and demand, the driving force for the rise of rare earth prices still exists. Related subjects: China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) , Jl Mag Rare-Earth Co.Ltd(300748) .
Industry dynamics
In view of the recent abnormal situation that the supply and demand of the iron ore market is generally stable and the port inventory continues to rise to a multi-year high, but the price rises sharply, the national development and Reform Commission and the State Administration of market supervision jointly held a special meeting to study the prevention of excessive hoarding of iron ore. (National Development and Reform Commission)
Company dynamics
Zijin Mining Group Company Limited(601899) (02899. HK): announce the capacity improvement plan of kamoa kakula copper mine. On the basis of the operation of phase II project in April 2022, it is proposed to increase the design capacity of phase I and phase II concentrators from the total ore processing capacity of 7.6 million tons / year to 9.2 million tons / year, with an annual output of more than 450000 tons of copper, becoming the fourth largest copper producing mine in the world.
Risk tip: macroeconomic is less than expected and geopolitical risks are escalating.
