The conflict between Russia and Ukraine has affected the supply of aluminum and nickel to overseas industrial metals, and the price of metals has increased significantly
The escalation of the conflict between Russia and Ukraine this week has raised concerns about the stability of global aluminum and nickel supply. Russia is a major supplier of aluminum and nickel in the world, and the Russian Ukrainian crisis has raised concerns about European natural gas prices, which has led to the instability of electrolytic aluminum supply in Europe. LME aluminum hit another record high this week. LME aluminum rose 3.60% to close at US $3380 / ton, and the inventory was 823125 tons, continuing to maintain a record low; LME nickel rose 0.29% to close at US $24215 / ton, with inventories of 80088 tons and a decline in inventories. It is suggested to pay attention to Yunnan Copper Co.Ltd(000878) , Tongling Nonferrous Metals Group Co.Ltd(000630) , Zijin Mining Group Company Limited(601899) , Henan Shenhuo Coal&Power Co.Ltd(000933) , Yunnan Aluminium Co.Ltd(000807) , Shandong Nanshan Aluminium Co.Ltd(600219) .
Downstream demand recovered significantly after the festival, and energy metal prices continued to rise
This week, battery grade lithium carbonate rose 9.09% to close at 480000 yuan / ton; Industrial grade lithium carbonate rose 9.50% to close at 461000 yuan / ton. The rising trend of lithium carbonate prices has accelerated, and the downstream demand has recovered significantly after the festival. The supply is still tight, and the price is expected to continue to rise. Electrolytic cobalt rose 2.52% this week to close at 550000 yuan / ton, and the upward trend remained unchanged. At present, the inventory of China’s industrial chain is low, and the cobalt price is expected to remain strong. It is recommended to pay attention to Tianqi Lithium Corporation(002466) , Ganfeng Lithium Co.Ltd(002460) , Youngy Co.Ltd(002192) , Zhejiang Huayou Cobalt Co.Ltd(603799) , Yongxing Special Materials Technology Co.Ltd(002756) .
Steady growth policy drives demand, and China’s metal prices are expected to fluctuate at a high level
Copper on the Shanghai Futures Exchange fell – 1.15% this week to close at 71030 yuan / ton; Aluminum fell – 1.01% to close at 22835 yuan / ton; Lead rose 0.77% to close at 15570 yuan / ton; Zinc fell – 1.69% to close at 24765 yuan / ton; Tin fell – 0.41% to close at 338690 yuan / ton; Nickel fell – 1.31% to close at 177720 yuan / ton. China’s steady growth policy continues to make efforts. At the same time, after the Winter Olympic Games, some enterprises in the North continue to resume production, and China’s industrial metal prices are expected to remain high. It is recommended to pay attention to Henan Mingtai Al.Industrial Co.Ltd(601677) , Ye Chiu Metal Recycling (China) Ltd(601388) , Shandong Nanshan Aluminium Co.Ltd(600219) , Yunnan Aluminium Co.Ltd(000807) , etc.
The situation in Russia and Ukraine is escalating, and the international gold price rises and falls
The conflict between Russia and Ukraine escalated this week, and the risk aversion pushed up the price of gold, which broke through US $1910 / ounce in the middle of the week, and then showed a downward trend. This week, spot gold in London fell – 0.46% to close at US $188907/oz, while the US dollar index rose 0.46% to close at 96.54; COMEX gold fell – 0.51% to US $188760/oz this week, while Comex Silver Rose 1.33% to US $24.00/oz. In the short term, the prospect of the conflict between Russia and Ukraine is unclear, and the fluctuation range of gold price may increase. In the short term, there is still room for gold price to rise.
Risk tip: the situation in Russia and Ukraine has changed and the Fed’s policy has exceeded expectations.
