Key investment points
The 13th session of the National People’s Congress [the government has made an overall plan for renewable energy consumption and put forward the key words of the 13th session of the National People’s Congress, such as the total amount of renewable energy and the intensity of renewable energy consumption, which are not included in the five-month assessment report of the 13th session of the National People’s Congress, and put forward the key words of the 13th session of the National People’s Congress; Implement the carbon peak action plan; Promote the transformation from “dual control” of energy consumption to “dual control” of total carbon emission and intensity; Continue to support the consumption of new energy vehicles.
[Ministry of industry and information technology: moderately accelerate the development progress of China’s lithium, nickel and other resources] the Vice Minister of industry and information technology said at the press conference of the state information office on February 28 that this year, he will focus on meeting the production needs of power batteries, moderately accelerate the development progress of China’s lithium, nickel and other resources, and crack down on unfair competition such as hoarding and driving up prices. At the same time, we will improve the recycling system of power batteries, support technical breakthroughs such as efficient disassembly and recycling, and constantly improve the recycling rate and resource utilization efficiency.
[the price rise of lithium salt slowed down slightly, and the cobalt salt market continued to rise] [cobalt] according to the data of Shanghai Nonferrous Metals network, on March 4, the mainstream price of electrolytic cobalt in China was 54756000 yuan / ton, with the average price rising by 10000 yuan / ton compared with last week. Cobalt sulfate reported 118000119000 yuan / ton, with an average price increase of 2300 yuan / ton compared with last week. Co3O4 was reported at 424000424000 yuan / ton, with an average price increase of 4000 yuan / ton compared with last week. In terms of cobalt, the cobalt salt market is still tense due to the shipping schedule problem. In addition to the recent rise in the cost of auxiliary materials, the stock preparation continues in March, the spot inventory of the salt plant continues to be low, and the rising overseas prices trigger the price rising sentiment of the cobalt salt plant, and the cobalt salt price is still bullish in the next week. [lithium] according to the data of Shanghai Nonferrous Metals network, on March 4, the quotation of metal lithium was 2.704-2.764 million yuan / ton, with the average price rising by 194000 yuan / ton compared with last week. The mainstream price of battery grade lithium carbonate was reported at 492 Shandong Hi-Speed Road&Bridge Co.Ltd(000498) 000 yuan / ton, with the average price rising by 31000 yuan / ton compared with last week. The quotation of battery grade lithium hydroxide (coarse particle) is 449000458000 yuan / ton, with the average price rising by 38000 yuan / ton compared with last week. In terms of lithium, there is still a gap between supply and demand of lithium carbonate, but the downstream material factory has basically completed the stock preparation in March this week, and it is predicted that the price growth may slow down in the future. In terms of lithium hydroxide, the price is expected to rise due to the small amount of spot in the market and the incremental demand for reserve production caused by the forward movement of orders. [ternary materials] according to the data of Shanghai Nonferrous Metals network, on March 4, the price of ternary materials (type 523) was 35 China Merchants Bank Co.Ltd(600036) 2900 yuan / ton, with the average price rising by 20200 yuan / ton compared with last week. The quotation of ternary precursor (type 523) is 147000149500 yuan / ton, and the average price is 10000 yuan / ton higher than last week. The growth rate of lithium salt price at the ternary cost side is still high, the precursor price increases slightly, and the cost rises. At this stage, there is a certain forward movement in power orders. The forward part is mainly high nickel, and the demand increases slightly. At present, the quotation of materials closely follows the rising cost, and the procurement and production tend to be cautious. It is expected that the price will continue to follow the cost upward. [lithium iron phosphate cathode] according to the data of Shanghai Nonferrous Metals network, on March 4, the price of lithium iron phosphate (power type) was 159500164500 yuan / ton, and the average price increased by 6000 yuan / ton compared with last week. The price of lithium iron phosphate (energy storage type) is 1485152500 yuan / ton, and the average price is the same as last week. It’s highly recommended to focus on: ‘s Contemporary Amperex Technology Co.Limited(300750) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\35.
According to pvinfolink data, on March 2, the mainstream quotation of [silicon material] polycrystalline silicon compact was RMB 242000 / ton, and the average price was the same as that of last week. In terms of silicon materials, although the supply of silicon materials increased slightly month on month in February and is expected to increase month on month in March, the overall new supply of silicon materials in the first quarter of this year is still insufficient compared with the new demand in the silicon wafer crystallization link. At the same time, under the background of the rising operating rate in the crystallization link, the mismatch relationship between short-term silicon material supply and demand is difficult to solve, The probability of stable silicon material price increases. [silicon chip] the mainstream quotation of single crystal silicon chip 166mm is 5.430 yuan / PC, with the average price rising by 1.5% compared with last week. The mainstream quotation of 182mm monocrystalline silicon wafer is 6.520 yuan / PC, with the average price rising by 1.1% compared with last week. The mainstream quotation of 210mm monocrystalline silicon wafer is 8.600 yuan / PC, with the average price rising by 1.2% compared with last week. The frequent rise in the price of monocrystalline silicon wafers is strongly related to the rise in the price of raw materials in the early stage and the relatively concentrated demand for silicon wafers by batteries. In addition, due to the severe epidemic situation and strengthened control in some parts of northern China recently, there are many disadvantages in material transportation and goods transportation, including personnel flow, which directly affect the production and supply in the current region. [cell] the mainstream quotation of 166mm single crystal perc cell is 1.100 yuan / W, with the average price rising by 0.9% compared with last week. The mainstream quotation of 182mm single crystal perc battery is 1.130 yuan / W, and the average price is 0.9% higher than last week. The mainstream quotation of 210mm single crystal perc battery is 1.140 yuan / W, and the average price is 1.8% higher than last week. The rising trend of silicon wafers has not stopped, and the quotation of battery manufacturers will still rise to the high price range of this week. It is expected that there will still be price adjustment ranging from 1-2 cents per watt next week. However, affected by the acceptance of component end, it is not ruled out that the operating rate of battery wafers from March to April may be revised. [components] the mainstream quotation of 365375 / 440450w single crystal single glass perc components is 1.860 yuan / W, and the average price is the same as last week. The mainstream quotation of 182mm single crystal single glass perc module is 1.880 yuan / W, and the average price is the same as that of last week. The rising trend of the supply chain has not stopped, and the current manufacturers and terminals are still in a wait-and-see attitude. It is mainly affected by the overseas demand gap and the uncertainty of the start-up of Chinese projects. The overall operating rate of component manufacturers is about 70-80%. [photovoltaic glass] the mainstream price of 3.2mm coating is reported as 26.0 yuan / m2, and the average price is the same as that of last week. The mainstream quotation of 2.0mm coating is 20.0 yuan / m2, and the average price is the same as last week. Key recommendations focus on the following: ‘ Hangzhou First Applied Material Co.Ltd(603806) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\, Chengdu Guibao Science & Technology Co.Ltd(300019) , Yangling Metron New Material Co.Ltd(300861) , Levima Advanced Materials Corporation(003022) .
Risk tip: the newly installed capacity of photovoltaic is less than expected, the production and sales of new energy vehicles are less than expected, the sharp fluctuation of raw material prices affects the industry demand, and other unexpected explosion risks.
