From Jiangxi Copper Company Limited(600362) , Baiyin Nonferrous Group Co.Ltd(601212) and other copper enterprises have announced their involvement in the field of copper foil to “ningwang” binding the industry leader’s production capacity of 100000 tons in advance, the lithium battery copper foil industry is setting off a huge tide of production expansion.
Electrolytic copper foil generally includes lithium copper foil, shielding copper foil, electrolytic copper foil for printed circuit and ultra thick electrolytic copper foil for printed circuit. Lithium battery copper foil is mainly used for power battery, which is fully called electrolytic copper foil for lithium ion battery.
The fierce expansion of lithium battery copper foil is closely related to the continuous tension between supply and demand in the industry. Data source: public information
“ningwang” binds copper foil leading capacity in advance
On the evening of August 8, lithium copper foil leader Guangdong Jiayuan Technology Co.Ltd(688388) announced that the company signed a memorandum of intent on joint venture investment with Contemporary Amperex Technology Co.Limited(300750) and plans to jointly establish a joint venture with a registered capital of 500 million yuan in the first phase and a subscribed capital of 400 million yuan, accounting for 80% of the shares. The registered capital of the joint venture can be increased to 2 billion yuan by stages.
According to the memorandum, the joint venture will plan to build a high-performance copper foil project with an annual output of 100000 tons, which will be constructed in two phases. Meanwhile, all products produced by the joint venture shall be preferentially supplied to Contemporary Amperex Technology Co.Limited(300750) .
According to public information, Guangdong Jiayuan Technology Co.Ltd(688388) as the leader of lithium battery copper foil in China, its 6 μ M lithium battery copper foil production capacity has begun to popularize penetration, 4.5 μ M extremely thin high-end lithium battery copper foil has achieved mass production, and the market share of this product ranks in the forefront of the industry. The signing of the memorandum also means that “ningwang” binds the industry leader’s capacity of 100000 tons of lithium battery copper foil in advance.
In fact, Guangdong Jiayuan Technology Co.Ltd(688388) has been actively expanding production. Previously, in November, the company announced that it planned to raise no more than 4.9 billion yuan for new high-performance copper foil technical transformation projects with an annual output of 16000 tons, high-performance copper foil projects with an annual output of 15000 tons, high-precision ultra-thin electronic copper foil projects with an annual output of 30000 tons, etc. In the same month, the company also plans to invest and build a high-end copper foil construction project with an annual output of 50000 tons in Meixian County, Guangdong Province.
another giant in the industry Nuode Investment Co.Ltd(600110) released its second fixed increase plan in the last two years in June, and plans to raise no more than 2.288 billion yuan to invest in the 15000 ton phase III project in Qinghai and the 12000 ton phase III project in Huizhou.
In addition, Tongling Nonferrous Metals Group Co.Ltd(000630) ‘s Copper Crown copper foil gem IPO registration was approved by the CSRC on December 8. According to its prospectus, the company’s total capacity of copper foil products is 45000 tons / year. The IPO plans to raise nearly 1.2 billion yuan for the ultra-thin electronic copper foil project (phase II) with an annual output of 20000 tons of high-precision energy storage, high-performance electronic copper foil technology center project, etc.
copper enterprises have set foot in the field of copper foil
In addition to the intensive production expansion of industry giants, upstream copper enterprises have also announced their involvement in lithium battery copper foil to “share” the prosperity dividend of the industry.
The Baiyin Nonferrous Group Co.Ltd(601212) company mainly engaged in cathode copper announced on the evening of December 7 that the company started the cooperative construction of 200000 tons of high-grade lithium battery copper foil project and carried out preliminary work. It is disclosed that the total investment of the project is about 12.15 billion yuan, and the main products are preliminarily determined to be 450 million yuan μ m、6 μ M electrolytic copper foil for lithium battery.
According to the plan, the construction subject of the project is Gansu Defu new materials Co., Ltd. at present, its electrolytic copper foil production capacity basically has 30000 T / A, and the phase III 40000 t / a project is under construction. By the end of 2022, the production capacity will reach 70000 T / A. The construction of subsequent projects will be promoted as planned. Baiyin Nonferrous Group Co.Ltd(601212) said that the company has an annual production capacity of 200000 tons of cathode copper. The company can give full play to its advantages of copper raw materials and ensure the stability of the project supply chain.
Another copper processing giant Zhejiang Hailiang Co.Ltd(002203) announced on November 7 that it plans to invest 8.9 billion yuan to build a 150000 ton annual high-performance copper foil material project in Lanzhou (including 120000 tons of lithium battery copper foil and 30000 tons of standard copper foil). The project is constructed in three phases. The first phase is planned to start in 2021, with a capacity of 25000 tons put into operation in the fourth quarter of 2022. At the same time, the company said it was actively demonstrating the feasibility of building 100000 tons of copper foil projects in Europe, America and Southeast Asia.
It is reported that Zhejiang Hailiang Co.Ltd(002203) has signed procurement contracts for core key equipment such as cathode roller and green foil all-in-one machine with Xi’an Aerospace Source Power Engineering Co., Ltd., and formulated strict delivery dates to ensure that the project is put into operation on schedule.
In July this year, the copper giant Jiangxi Copper Company Limited(600362) also announced to cut into the field of lithium battery copper foil and planned to invest 12.8 billion yuan in three projects with an annual output of 100000 tons of lithium battery copper foil, 220000 tons of copper rod and 30000 tons of casting materials.
tight supply of high-end products will continue
Why is the wind of expanding the production of copper foil industry getting stronger and stronger? Tight product supply is the main reason.
Since the second half of this year, driven by the demand for power batteries and energy storage batteries, lithium battery copper foil has been in short supply, and the prices of related products have continued to rise. Data show that as of November, the average price of battery grade copper foil in China was 123.5 yuan / kg, up nearly 25% from the beginning of the year.
lithium battery copper foil manufacturers mainly quote downstream lithium battery manufacturers in the form of “copper price + processing fee”. Industry insiders said that the copper foil processing fee began to rise since December last year, 8 before the Spring Festival μ M and 6 μ M processing fee increased by more than 15%, to 4.5% in April μ M processing fees increased by about 7-8%.
“The company is in full production.” Guangdong Jiayuan Technology Co.Ltd(688388) said in the investor survey in October that in the medium and long term, the supply of high-end lithium battery copper foil in the industry will still exceed the demand.
Strong orders combined with increased gross profit, and the enterprise performance continued to improve. According to the preliminary prediction of Tongguan copper foil, it will achieve 3.96 billion yuan in 2021, a year-on-year increase of 61.17%; The net profit was 350 million yuan, a year-on-year increase of 387.26%.
According to the calculation of securities companies, from the perspective of structure, 6 μ The demand for extremely thin copper foil below m is expected to be 115000 tons, 211000 tons and 288000 tons, but China’s effective capacity is only 94000 tons, 162000 tons and 245000 tons. If considering the limited output of important upstream production equipment and the lag of production cycle, the imbalance between supply and demand of high-performance lithium battery copper foil will continue until 2023 at least.
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(Shanghai Securities News)
