New military materials: the price of electrolytic cobalt rebounded slightly. (1) The price of electrolytic cobalt this week was 555000 yuan / ton, a month on month increase of + 1.5%. The ratio of electrolytic cobalt to cobalt powder is 0.88, with a ring ratio of + 1.5%; The price ratio of electrolytic cobalt and cobalt sulfate was 4.68, with a month on month ratio of – 0.5%. These two ratios show that the performance of military industry relative to the manufacturing industry is stronger and weaker relative to new energy vehicles this week. (2) The price of carbon fiber this week was 186.8 yuan / kg, a month on month increase of + 0%. The gross profit is 58.11 yuan / kg, with a month on month ratio of – 1.0%. The price and gross profit are at a high level in the past 20 years. (3) The prices of titanium, rhenium and beryllium were the same as last week.
New materials for new energy vehicles: lithium prices continued to rise, and the Byd Company Limited(002594) sales data in February showed a bright performance. (1) This week, the CIF price of li2o5% lithium concentrate in China has reached US $2715 / ton, a month on month increase of + 0.2%. (2) This week, the prices of electric carbon, industrial carbon and battery grade lithium hydroxide were 470400 yuan / ton, 452500 yuan / ton and 433200 yuan / ton respectively, with a month on month ratio of + 3.9%, + 4.71% and + 8.5%. Lithium prices continued to rise. At the end of January, Byd Company Limited(002594) announced the price adjustment of its electric vehicles ranging from 1 Jiangnan Mould & Plastic Technology Co.Ltd(000700) 0 yuan. Under the influence of the Spring Festival holiday in February, the sales volume of new energy vehicles in February was 88283, down only 5.2% month on month compared with January. Among them, the sales volume of Byd Company Limited(002594) pure electric passenger vehicles in February was 43173, down 6.9% from January, which also shows that the demand for some models has not been significantly affected after the rise in lithium salt price was transmitted to the terminal. (3) This week, the price of cobalt sulfate was 116000 yuan / ton, a month on month increase of + 1.8%. (4) This week, the prices of lithium iron phosphate, 523 and 811 cathode materials were 1640, 3595 and 354500 yuan / ton respectively, with a month on month ratio of + 2.50%, + 6.0% and + 0%. The rise in lithium iron phosphate was mainly due to the rise in the prices of raw materials lithium carbonate, phosphoric acid and iron phosphate. (5) This week, the price of praseodymium and neodymium oxide was 1.105 million yuan / ton, a month on month increase of + 0.9%.
New photovoltaic materials: polysilicon and EVA prices rose slightly. (1) This week, the price of photovoltaic grade polysilicon was US $33.20/kg, a month on month increase of + 0.5%, and the price is still at a high level in recent six years. (2) This week, the price of EVA was 20500 yuan / ton, a month on month increase of + 1.5%, maintaining a high position since 2013. (3) This week, the coating price of 3.2mm photovoltaic glass is 25 yuan / m2, with a month on month increase of + 0%.
The prices of new nuclear power materials: Zircon sand and zirconium silicate increased slightly. (1) This week, the prices of zirconium oxychloride, sponge zirconium, hafnium oxide, zirconium silicate and zircon sand were 24500 yuan / ton, 235 yuan / kg, 4500 yuan / kg, 20375 yuan / ton and 195625 yuan / ton respectively, with a month on month ratio of + 0%, + 0%, + 0%, + 2.0% and + 2.3%.
New materials for consumer electronics: the price of cobalt varieties has picked up. (1) On Thursday, the price of cobalt trioxide was 432500 yuan / ton, a month on month increase of + 1.2%. The price of lithium cobaltate this week was 574 yuan / kg, a month on month increase of + 1.8%. (2) The price of silicon carbide this week is 9200 yuan / ton, with a month on month increase of + 2.2%; This week, the prices of high-purity gallium, crude indium and refined indium were 2625, 1375 and 1525 yuan / kg respectively, with a month on month increase of + 1.9%, – 3.5% and – 1.3% respectively; On Tuesday, the price of germanium oxide was 6750 yuan / kg, a month on month increase of + 0.8%.
Other materials: platinum, rhodium and iridium prices rose and fell. (1) This week, the prices of 99.95% platinum, rhodium and iridium were 232, 4730.5 and 1025 yuan / g respectively, with a month on month ratio of + 1.8%, – 0.1% and + 10.8%.
It is suggested to pay attention to the target: continue to be optimistic about the new metal materials sector in an all-round way. The high price of lithium concentrate is still good for enterprises with high self-sufficiency rate of lithium resources. It is suggested 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 independent and 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 warning: over valuation risk; Risk of technology path change; The risk of radical adjustment and management of enterprises, as well as the risk of radical adjustment and liquidity.
