Key points:
Last week, all sectors of new materials fell, and the sectors of lithium and photovoltaic materials adjusted greatly
Last week, all segments of the industry were adjusted, and panel materials, magnetic materials and semiconductor materials performed relatively well, with weekly declines of 1.31%, 2.64% and 2.66% respectively, The changes relative to the benchmark (CSI 300) were + 0.68pct, -0.65pct and -0.68pct respectively. The carbon fiber sector fell 3.25% weekly, outperforming the benchmark by 1.26pct. Lithium and photovoltaic materials were significantly adjusted, with weekly declines of 7.72% and 4.3% respectively, outperforming the benchmark by 5.73pct and 2.31pct respectively.
The rare earth raw material end at the upstream of the magnetic material continued to fall slightly, the price of cobalt continued to rise, the price of ferroboron was flat, and the price of sintered neodymium iron boron magnetic material remained stable
Last week, the price of praseodymium neodymium oxide in Shanghai was 847500 yuan / ton, down 0.59% on a weekly basis; The prices of dysprosium iron and dysprosium oxide were 2910 yuan / kg and 2890 yuan / kg respectively, and the weekly ring ratio was flat and down 1.03% respectively; The prices of metal terbium and terbium oxide in Shanghai were 14150 yuan / kg and 11050 yuan / kg respectively, and the change of weekly ring ratio was flat and down 0.9% respectively. The price of LME3 three-month cobalt futures was USD 70500 / ton, up 0.98% week on week; The spot price of nonferrous cobalt in the Yangtze River was 488000 yuan / ton, up 1.24% week on week. In terms of ferroboron price, 17% ferroboron price was 27500 yuan / ton, unchanged on a week-on-week basis. The price of 99.99% gallium was 2275 yuan / kg, unchanged on a week-on-week basis. As of last December, the average price of sintered NdFeB with low, medium and high intrinsic coercivity was 227.5 yuan / kg, 262.1 yuan / kg and 285 yuan / kg respectively, which was flat compared with the average price in November.
The price of electrolytic cobalt at the raw material end of lithium battery continued to rise, the price of cobalt and manganese sulfate increased, but the price of nickel sulfate remained stable, and the price of lithium carbonate continued to rise sharply; The high level of ternary precursor is stable, and the high price of ternary cathode material is upward; LFP precursor iron orthophosphate rebounded, and the price of LFP cathode material continued to reach a new high. Lithium hexafluorophosphate remained stable at a high level, DMC prices continued to fall, and electrolyte prices remained stable at a high level. Negative material, diaphragm and copper foil prices were flat on a week-on-week basis
Cathode material: last Wednesday, the price of front-end battery grade electrolytic cobalt was 484500 yuan / ton, up 1.89% on a weekly basis. The sulfate prices of cobalt, nickel and manganese were 102000 yuan / ton, 36500 yuan / ton and 10000 yuan / ton respectively, and the change of weekly ring ratio was + 0.99%, flat and + 2.05% respectively. The price of battery grade lithium carbonate was 238000 yuan / ton, up 8.18% on a weekly basis. The prices of ternary precursors ncm111, ncm523 and ncm622 were 144500 yuan / ton, 133000 yuan / ton and 140000 yuan / ton respectively, which were flat on a weekly basis. The prices of ternary cathode materials ncm111, ncm523 and ncm622 were 261500 yuan / ton, 243500 yuan / ton and 246000 yuan / ton respectively, and the change of week to month ratio was + 3.16%, + 3.4% and flat respectively. The price of iron orthophosphate at the front end of LFP was 22500 yuan / ton, up 2.27% on a weekly basis. The price of lithium iron phosphate cathode material was 92000 yuan / ton, up 2.22% on a weekly basis.
Electrolyte: last Saturday, the price of lithium fluorophosphate was 565000 yuan / ton, unchanged on a week-on-week basis. The average ex factory price of DMC Chinese manufacturers was 8750 yuan / ton, down 6.91% on a weekly basis. The prices of lithium iron phosphate electrolyte, lithium manganate electrolyte and ternary cylindrical 2.2ah electrolyte were 110300 yuan / ton, 85800 yuan / ton and 112800 yuan / ton respectively, which were flat on a weekly basis.
Negative electrode material: the prices of domestic middle-end artificial and natural graphite were 51500 yuan / ton and 38500 yuan / ton respectively, which were flat on a weekly basis.
Diaphragm: last week, the price of mainstream wet diaphragm products in China was 1.23-2.9 yuan / m2, unchanged month on month; The price of mainstream dry process diaphragm products in China was 0.93-1 yuan / m2, unchanged month on month; The prices of mainstream products of wet coated diaphragms in China were 2.1-3.4 yuan / m2, unchanged month on month.
Battery grade copper foil: the price was 107 yuan / kg last week, unchanged on a week-on-week basis.
Downstream DRAM prices of semiconductor materials rebounded, and flash memory prices rebounded
Last week, the semiconductor industry indexes in Taiwan and Philadelphia changed by + 0.37% and – 3.92% on a week-on-week basis respectively; Dix index rose 2.46% week on week. In terms of DRAM, the price of downstream ddr34gb (1600MHZ) increased by 2.83% on a weekly basis. The prices of nandflash 64GB and 32GB increased by 2.87% and 0.24% on a weekly basis respectively.
Investment advice
It is suggested to continue to pay attention to the opportunities of rare earth permanent magnet plate that is expected to be significantly increased by policy driven demand growth, the pull of demand for carbon carbon matrix composites industry under the long-term growth prospect of photovoltaic installation, the increase of market capacity brought by the demand for lithium battery materials under the long-term growth prospect of electric vehicles, and the long-term trend of localization of integrated circuits, Localization progress and opportunities of semiconductor materials.
Risk statement
Price decline risk, prosperity change risk, policy change risk.
