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On December 6, 2021, the Shanghai Composite Index closed at 3589.31 points, down 0.5%; The Shenzhen composite index closed at 14752.96 points, down 0.93%; The power equipment and new energy index closed at 14398.44 points, down 1.97%. The wind primary material index closed at 6513.3 points, down 0.88%. Among them, the top three companies in the mining industry are: Sundiro Holding Co.Ltd(000571) (000571. SZ, 5.07%), Zhongman Petroleum And Natural Gas Group Corp.Ltd(603619) (603619. Sh, 3.35%), Shanxi Antai Group Co.Ltd(600408) (600408. Sh, 2.91%). The top three companies in the nonferrous metal industry are: Aluminum Corporation Of China Limited(601600) (601600. Sh, 10.02%), Zhuzhou Smelter Group Co.Ltd(600961) (600961. Sh, 10.01%), Shenzhen Sunxing Light Alloys Materials Co.Ltd(603978) (603978. Sh, 9.49%).
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Coal prices are generally weak. In terms of inventory, the port inventory has accelerated the port dredging, and the inventory has decreased steadily. So far, the inventory of Qinhuangdao port is 5.3 million tons, down 320000 tons from last Friday. In terms of supply, since entering the power and coal supply guarantee period, Daqin line has maintained a transportation volume of 1.3 million tons per non construction day and 1.1 million tons per construction day, and the average daily transportation volume has remained about 1.29 million tons. In terms of demand, central heating is in full swing in the north, the temperature in East China continues to be low, the coal consumption of power plants shows an increasing trend, and the subsequent procurement will increase. In terms of policy, the coal fair closed yesterday. The national development and Reform Commission preliminarily determined that the coal price range was 550-850 yuan, corresponding to the benchmark price of 700 yuan, an increase of 31%. Before, the upstream and downstream customers had a strong wait-and-see mood. After the coal fair, the coal market tended to be clear, and the situation of booming supply and demand was gradually established. It is recommended to pay attention to the following related subjects: Yanzhou Coal Mining Company Limited(600188) , Shaanxi Coal Industry Company Limited(601225) , Pingdingshan Tianan Coal Mining Co.Ltd(601666) .
Industry dynamics
1. On December 5, the 2022 national coal fair came to an end. The work plan for signing and performing medium and long-term coal contracts in 2022 (Draft for comments) was published at the fair. The document was drafted by the national development and Reform Commission and proposed to expand the signing scope of medium and long-term coal contracts next year. In principle, the supplier covers all coal production enterprises with an approved capacity of 300000 tons / year and above, and the demander realizes full coverage of coal for power generation and heating for the first time. The pricing mechanism of “benchmark price + floating price” remains unchanged, but monthly pricing is implemented. The benchmark price is adjusted for the first time since 2017, and the floating range of 550 yuan / ton to 850 yuan / ton is clearly given. (Changjiang nonferrous metals)
2. The Russian Ministry of Finance said that it would buy foreign currencies worth 22.8 billion rubles (US $309 million) every day from December 7 to January 13 next year, a slight decrease from the previous month. The Ministry of Finance said that its total conventional foreign exchange and gold purchases in the market this month would reach 502 billion rubles (US $6.81 billion). (Changjiang nonferrous metals)
Company dynamics
China Northern Rare Earth (Group) High-Tech Co.Ltd(600111) (600111): on December 3, 2021, Jiaxin Co., Ltd., the second largest shareholder, plans to reduce its holdings of no more than 23 million shares of the company in the form of exchange centralized bidding trading according to the market price within 6 months, and the number of shares to be reduced this time does not exceed 0.6331% of the total shares of the company.
Kailuan Energy Chemical Co.Ltd(600997) (600997): progress of shareholders’ centralized bidding reduction plan: as of December 4, 2021, China Cinda has reduced its holdings of 15846245 shares of listed companies by more than half of the planned time.
Risk tip: the epidemic situation fluctuated beyond expectations and the macro economy went down.
