New military materials: Electrolytic Cobalt prices pick up. (1) This week, the price of electrolytic cobalt was 477000 yuan / ton, a month on month increase of + 4.4%. Due to the epidemic in South Africa and the shortage of international shipping capacity, the short-term supply of cobalt raw materials will be affected. The ratio of electrolytic cobalt to cobalt powder was 0.91, a month on month increase of + 2.8%; the price ratio of electrolytic cobalt to cobalt sulfate was 5.02, a month on month increase of + 3.3%. These two ratios show that the performance of military industry is stronger than that of manufacturing industry and new energy vehicles this week. (2) The price of carbon fiber this week was 178.5 yuan / kg, a month on month increase of + 0%, and the gross profit was 45.75 yuan / kg, a month on month increase of – 1.3%. (3) the prices of titanium, rhenium and beryllium were the same as last week.
New energy vehicles and new materials: in April next year, the contract price of electric carbon has reached 260000 yuan per ton. (1) This week, the CIF price of Li2O 5% lithium concentrate in China has reached US $2315 / ton, an increase of 0.4% month on month. (2) This week, the prices of electric carbon, industrial carbon and battery grade lithium hydroxide were 213200 yuan / ton, 2006 yuan / ton and 191000 yuan / ton respectively, with a chain comparison of + 4.3%, + 2.26% and + 0.9%. This week, the price of lc2204 under Changzhou Zoomlion battery grade lithium carbonate contract has risen to 260000 yuan / ton, nearly 47000 yuan / ton higher than the current price of electric carbon. Downstream demand continues to be strong: mid November Shanxi Guoxin Energy Corporation Limited(600617) The automobile output is 457000, with a penetration rate of 17.7%; In December, the output of mainstream battery manufacturers Ningde, Byd Company Limited(002594) , GuoXuan, Funeng and Yiwei totaled 27.7gwh, up another 9.3% month on month. (3) This week, the price of cobalt sulfate was 94500 yuan / ton, a month on month increase of + 2.2%, mainly due to the continuous rise of the price of cobalt raw materials. (4) the prices of lithium iron phosphate, 523 and 811 cathode materials were 91500 yuan / ton, 2265 and 271500 yuan / ton respectively, a month on month increase of + 2.27%, + 0.7% and + 0%. This week, the weekly output of lithium iron phosphate reached 13065 tons, a month on month increase of + 2%.
New photovoltaic materials: polysilicon and EVA price callback. (1) This week, the price of photovoltaic grade polysilicon was 31.65 USD / kg, with a month on month ratio of – 1.1%. The price is still at a high level in recent 6 years. (2) this week, the price of EVA was 21000 yuan / ton, with a month on month ratio of – 4.5%, maintaining a high level since 2013. (3) this week, the coating price of 3.2mm photovoltaic glass was 26 yuan / m2, with a month on month ratio of + 0%. The decline in the price of raw materials will be conducive to the further improvement of terminal demand.
The price of new nuclear power materials: zirconium oxychloride decreased by 5.2%. (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, 18613 yuan / ton and 17050 yuan / ton respectively, with a chain comparison of – 5.2%, + 0%, + 0%, + 0% and 0.0%.
New materials for consumer electronics: the price of cobalt products continued to rise. (1) On Thursday, the price of cobalt trioxide was 3500500 yuan / ton, a month on month increase of + 1.0%, mainly due to the increase in the quotation of overseas metal cobalt and the stronger demand of enterprises for goods preparation. This week, the price of lithium cobaltate was 415 yuan / kg, a month on month increase of + 2.2%. (2) This week, the price of silicon carbide was 8400 yuan / ton, a month on month increase of + 0%; this week, the prices of high-purity gallium, crude indium and refined indium were 2525 yuan / kg, 1575 yuan / kg, a month on month increase of + 0%, + 0% and + 0% respectively; this 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 205.0, 3335.5 and 984.00 yuan / g respectively, with a chain comparison of + 0.5%, – 0.1% and – 0.3%. The prices of platinum, rhodium and iridium were higher since 2015.
It is suggested to pay attention to the target: continue to be fully optimistic about the new metal material plate. 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 independently 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 statement Risk of overvaluation; Risk of technology path change; Risks such as radical enterprise operation, deviation of strategy, governance failure, macro policy and liquidity adjustment.
