Nickel is setting off a storm.
it is rumored in the market that Glencore, an overseas mining giant, is closing its position on LME nickel. It is Qingshan holding group, which may face the situation that 200000 tons of nickel are delivered empty
Qingshan holding group is an important global manufacturer of stainless steel and ferronickel. It has close cooperation with many A-share listed companies. Under the rampant rumors, the A-share small partners of Qingshan holding group fell sharply one after another. To this end, securities times · e company interviewed relevant enterprises involved.
a-share small partners affected
E company found that there is a direct intersection between Qingshan holdings and A-share listed companies. It is proposed that at least include Zhejiang Huayou Cobalt Co.Ltd(603799) ( Zhejiang Huayou Cobalt Co.Ltd(603799) ), Cngr Advanced Material Co.Ltd(300919) ( Cngr Advanced Material Co.Ltd(300919) ), Zhejiang Yongjin Metal Technology Co.Ltd(603995) ( Zhejiang Yongjin Metal Technology Co.Ltd(603995) ), Mingwei environmental protection ( Zhejiang Weiming Environment Protection Co.Ltd(603568) ) and other A-share listed companies
In March 2021, Castle Peak holdings announced that it had signed a high nickel matte supply agreement with Zhejiang Huayou Cobalt Co.Ltd(603799) , Cngr Advanced Material Co.Ltd(300919) and . The three parties jointly agreed that Castle Peak holdings would supply 60000 tons of high nickel matte to Zhejiang Huayou Cobalt Co.Ltd(603799) and 40000 tons of high nickel matte to Cngr Advanced Material Co.Ltd(300919) within one year from October 2021.
In addition, Gem Co.Ltd(002340) 2021 said on the interactive platform in June that the company has maintained a close and good cooperative relationship with Qingshan holding group for a long time. Through the cooperation with Qingshan holding group, the company has locked in the protection of nickel resources in the next 10 years.
In addition to the above supply agreement, there are other intersections between Qingshan holdings and Zhejiang Huayou Cobalt Co.Ltd(603799) , Cngr Advanced Material Co.Ltd(300919) and .
For example, as early as before Cngr Advanced Material Co.Ltd(300919) 2020 listing, the company signed a strategic cooperation framework agreement with Qingshan holdings. The latest announcement on March 8 shows that the above cooperation framework agreement is still being implemented Zhejiang Huayou Cobalt Co.Ltd(603799) and Qingshan Technology Co., Ltd., a subsidiary of Qingshan holdings, set up Huashan nickel cobalt (Indonesia) Co., Ltd. in Indonesia, Zhejiang Huayou Cobalt Co.Ltd(603799) indirectly holds 68% of the equity of Huashan nickel cobalt through Huatuo International Private Development Co., Ltd., an overseas wholly-owned subsidiary.
In June 2021, Zhejiang Weiming Environment Protection Co.Ltd(603568) announced the signing ceremony of strategic cooperation agreement with Qingshan Holding Group Co., Ltd. the two sides will carry out all-round and in-depth cooperation in the field of environmental protection and energy all over the world through complementary advantages, adhering to the purpose of common development and win-win cooperation.
In January 2022, Zhejiang Yongjin Metal Technology Co.Ltd(603995) announced that it planned to establish Yongjin metal technology (Indonesia) Co., Ltd. in Indonesia through the joint investment of the wholly-owned subsidiary Xinyue asset management (Singapore) Pte Ltd. and the related party Zhejiang Qingzhan Industry Co., Ltd.
Enterprise investigation also shows that XCMG Qingshan (Xuzhou) New Energy Vehicle Co., Ltd., with a registered capital of 180 million yuan, is a joint venture between XCMG group and Qingshan holding group. Among them, XCMG group’s companies hold 41% and Qingshan holding group’s companies hold 39%.
Perhaps the market is worried about the impact of the crisis of Qingshan holding group. Related to it, A-share listed companies such as Zhejiang Huayou Cobalt Co.Ltd(603799) , Mingwei environmental protection and Cngr Advanced Material Co.Ltd(300919) fell one after another on March 8, evaporating a total market value of nearly 20 billion yuan a day.
response: foreign investors seize loopholes and malicious long
preliminary judgment will not affect the cooperation project
Nickel is one of the important cathode materials of ternary battery, which can improve the energy density of power battery and the mileage of new energy vehicles. Therefore, the importance of nickel in the new energy vehicle industry is self-evident. Therefore, Chinese industrial chain enterprises have accelerated the layout of nickel resources.
Qingshan holding group also entered the new energy industry in 2017 under this background.
According to public data, since 2017, Qingshan holding group has begun to layout the new energy industry and proposed to build a new energy industry chain of “nickel cobalt mineral resources mining hydrometallurgy precursor cathode material battery application”. In October 2017, the power battery supplier Ruipu Energy Co., Ltd. (hereinafter referred to as Ruipu energy) was established, and the major shareholder is Yongqing technology, with a shareholding ratio of 68%. Yongqing technology is the holding subsidiary of Qingshan holdings, which holds 51% of Yongqing technology.
According to the 2020 China Shipbuilding Industry Group Power Co.Ltd(600482) battery installed capacity data released by China Automobile Industry Association, the installed capacity of Ruipu energy in 2020 is 0.95gwh, ranking eighth among the top ten China Shipbuilding Industry Group Power Co.Ltd(600482) battery suppliers and becoming a dark horse in the industry.
The rapid rise of Qingshan holding group is inseparable from the cooperation of small partners of a shares. Among them, Qingshan holding group has more cooperation with Zhejiang Huayou Cobalt Co.Ltd(603799) and the companies with equity cooperation between the two sides include HuaSu import and export (Tongxiang) Co., Ltd., Huaxiang import and export (Tongxiang) Co., Ltd., Huashan import and export (Wenzhou) Co., Ltd.
In addition to trade cooperation, in Indonesia, a major nickel mining country, Qingshan holding group and Zhejiang Huayou Cobalt Co.Ltd(603799) also have project cooperation. For example, Huake Nickel Industry Co., Ltd., a subsidiary of Zhejiang Huayou Cobalt Co.Ltd(603799) and Yongtai Industrial Holding Co., Ltd., a subsidiary of Qingshan group, signed the joint venture agreement for high nickel matte project with an annual output of 45000 tons of nickel metal of Huake nickel industry Indonesia Co., Ltd., in which: Huake Nickel Industry Co., Ltd., a subsidiary of Zhejiang Huayou Cobalt Co.Ltd(603799) contributes 70%, Yongtai Industrial Holding Co., Ltd., a subsidiary of Qingshan holding group, contributed 30%.
In the above-mentioned cooperation projects, Zhejiang Huayou Cobalt Co.Ltd(603799) said that Qingshan holding group has invested in Indonesia for many years and has rich reserves of laterite nickel ore resources and mining capacity, leading process technology, patents, complete equipment design capacity and operation and management experience in the field of nickel metal smelting. The joint venture with Qingshan holding group to implement the raised investment project is conducive to ensuring the stable supply of laterite nickel ore resources, At the same time, support can be obtained in terms of pyrometallurgical technology and Indonesia’s investment and operation experience, so as to effectively reduce the investment risk of Indonesia’s high matte project and ensure the successful implementation of the raised investment project.
Affected by the rumors of position explosion of Qingshan holding group, Zhejiang Huayou Cobalt Co.Ltd(603799) fell rapidly after opening in the morning on March 8. As of the closing, Zhejiang Huayou Cobalt Co.Ltd(603799) was still blocked by 55000 sales orders on the falling limit.
what impact will the sharp rise of nickel price and the rumor of position explosion of Qingshan holding group have on Zhejiang Huayou Cobalt Co.Ltd(603799) Zhejiang Huayou Cobalt Co.Ltd(603799) ? Therefore, on March 8, securities times · e company contacted Zhejiang Huayou Cobalt Co.Ltd(603799) aspect.
Zhejiang Huayou Cobalt Co.Ltd(603799) told company e that nickel is an important material of ternary materials, and the rise and fall of price is related to the demand of downstream applications from the perspective of short-term operation, the rise of nickel price is good for enterprises engaged in nickel resource development. However, in the long run, the high nickel price will affect the demand of downstream customers and will not make use of the popularization and promotion of new energy industry. Therefore, in the long run, high nickel prices are not sustainable.
At the same time, Zhejiang Huayou Cobalt Co.Ltd(603799) also pointed out to company e that the nickel price rise this time is an obvious short squeeze, and Western forces seize the loophole and maliciously do more. At present, although some Chinese enterprises have metal nickel spot on hand, because these spot are not standard products and do not meet the delivery standards of London nickel in the futures market, they cannot deliver at maturity. Therefore, taking advantage of the uncertainty brought by the war between Russia and Ukraine, Western forces maliciously forced Chinese enterprises to break their positions in the futures market.
For the projects of nickel resources development cooperation between the two sides, Zhejiang Huayou Cobalt Co.Ltd(603799) told company e that at present, there are three projects of nickel resources development cooperation between the company and Qingshan holding group. Among them, the 60000 ton nickel metal quantity nickel cobalt hydroxide hydrometallurgy project in China and Vietnam has been put into trial production, and the operating load rate of the two production lines is about 50%; The other two projects are still under construction. If the three projects can be put into operation smoothly, the market demand will be alleviated at that time.
Zhejiang Huayou Cobalt Co.Ltd(603799) also told company e that according to the current preliminary judgment, this incident will not affect the construction of cooperation projects between the two sides. First of all, judging from the current situation, this incident will not have a fundamental impact on Qingshan holding group; Secondly, the three projects are Zhejiang Huayou Cobalt Co.Ltd(603799) led. If there is an accident in Qingshan holding group, other enterprises and suppliers will replace it. Indonesia is a large nickel mining country, and there are many enterprises engaged in the development of nickel resources. Moreover, the project itself is market-oriented operation
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