Promote energy conservation and carbon reduction in nonferrous metals industry, and pay attention to hydropower aluminum and recycled aluminum
The report on government work at the National People’s Congress this week proposed to promote the R & D, promotion and application of green and low-carbon technologies, build a green manufacturing and service system, and promote energy conservation and carbon reduction in the non-ferrous industry. Document No. 40 on finance and taxation of renewable resources has been put into effect, the tax receipts of renewable metal resources industry are standardized, and the industry concentration is expected to be further improved. The new tax policy is good for aluminum prices and large renewable aluminum enterprises. It is suggested to pay attention to Ye Chiu Metal Recycling (China) Ltd(601388) , Henan Mingtai Al.Industrial Co.Ltd(601677) , Shandong Nanshan Aluminium Co.Ltd(600219) and hydropower aluminum targets.
Lithium battery materials: the demand for new energy continues to be strong, and lithium battery raw materials continue to rise
The quotation of lithium / hydrogen carbonate battery last week was RMB 80000 / ton, an increase of 0.5% compared with the quotation of lithium / hydrogen carbonate battery last week, which was RMB 60000 / ton, up from RMB 50000 / week. Lithium salt manufacturers are gradually returning to full production, but the overall output increment is not obvious, the tight market supply situation is difficult to ease, and the lithium price is expected to continue to rise. It is suggested to pay attention to Ganfeng Lithium Co.Ltd(002460) , Qinghai Salt Lake Industry Co.Ltd(000792) , Tianqi Lithium Corporation(002466) , Chengxin Lithium Group Co.Ltd(002240) , Yongxing Special Materials Technology Co.Ltd(002756) and Youngy Co.Ltd(002192) etc.
Nickel: according to Baichuan information, LME nickel price this week was US $29130 / ton, up 20.3%; The price of nickel in the previous period was 187190 yuan / ton, up 7.3%. The mainstream transaction price of high nickel iron this week was 1518 yuan / ton, the same as last week; The mainstream transaction price of low nickel iron market was 5450 yuan / ton, the same as last week. The price of battery grade nickel sulfate was 42000 yuan / ton, up 2.7% from last week. Russia’s supply accounts for 10% of the world’s total. The risk of upstream resource disturbance has increased, the dual control of energy consumption has superimposed the growth of new energy demand, and the tight balance between nickel supply and demand continues. It is suggested to pay attention to Chengtun Mining Group Co.Ltd(600711) and Zhejiang Huayou Cobalt Co.Ltd(603799) .
Rare earth & permanent magnet: in terms of rare earth, the light rare earth praseodymium neodymium oxide was 1.105 million yuan / ton, up 0.5%; Medium heavy rare earth dysprosium oxide 3140 yuan / kg, down 0.3%; Terbium oxide was 15300 yuan / kg, the same as last week. The first batch of rare earth mining quotas and smelting separation indicators in 22 years were 100800 tons and 97200 tons respectively, an increase of only 20% over the previous year, and the supply of rare earth resources was less than expected; From January to October, China’s output of praseodymium and neodymium oxide was 56000 tons, a year-on-year increase of 30%; In the first three quarters, the output of neodymium iron boron in China was 134000 tons, a year-on-year increase of 43%, and the inventory of manufacturers decreased by 39% year-on-year; With the implementation of the motor energy efficiency improvement plan and the rapid growth of new energy vehicles, the downstream demand for rare earth continues to grow. It is suggested to pay attention to Inner Mongolia Baotou Steel Union Co.Ltd(600010) , Jl Mag Rare-Earth Co.Ltd(300748) and China Minmetals Rare Earth Co.Ltd(000831) and so on.
Industrial metals: the situation in Russia and Ukraine increases the risk of aluminum supply, and the price of industrial metals continues to rise
The price changes of copper, aluminum, lead, zinc, nickel and tin in the previous period of this week were 3.1%, 4.7%, – 0.9%, 4.7%, 7.3% and 1.9%; As of this week, China’s electrolytic aluminum supply end has resumed production of 1.3 million tons in 2022. Overseas, due to the supply risk of Russia and the rise of European electricity charges, it is expected that 5 million tons of electrolytic aluminum production capacity will face the risk of reduction, shutdown or poor trade and transportation, the gap of electrolytic aluminum will increase, and the value of recycled aluminum will appear. Aluminum suggests paying attention to Ye Chiu Metal Recycling (China) Ltd(601388) , Henan Mingtai Al.Industrial Co.Ltd(601677) , Shandong Nanshan Aluminium Co.Ltd(600219) , aluminum targets of hydropower, etc; Copper suggests paying attention to Jchx Mining Management Co.Ltd(603979) .
Small metals & new materials: rising uranium prices
Uranium prices rose 9.0% this week. Benefiting from the supply side reform of the manganese industry and the increase in the amount of manganese used by Tesla‘s new 4680 battery, the price of manganese and related manganese products are expected to continue to rise. It is suggested to pay attention to rare metal targets such as southern manganese industry, Guizhou Redstar Developing Co.Ltd(600367) , Xiangtan Electrochemical Scientific Co.Ltd(002125) and CGN mining, Nanjing Yunhai Special Metals Co.Ltd(002182) , China Molybdenum Co.Ltd(603993) and so on.
