The average increase of magnesium metal concept stocks during the year was 22.33 times that of Shanghai stock index in the same period.
After a short correction to 32000 yuan / ton in November, the overall price of magnesium ingots rose steadily, the supply and demand sides were in a stalemate game, and magnesium plants generally lacked spot resources. According to the business agency, as of December 29, the price of magnesium ingot reached 49000 yuan / ton, up 53% from the low point in recent two months. picture source: Business Society
magnesium alloy has broad space in the field of new energy vehicles
The downstream demand for magnesium is mainly concentrated in the automotive field. As the consumption of magnesium for overseas single cars is higher than that in China, the overseas demand for magnesium accounts for a relatively high proportion. With the overseas economic recovery in 2021, the overall demand for magnesium will increase rapidly. Driven by both cost and demand, the original magnesium smelting in Shaanxi, Shanxi, Xinjiang and Anhui was suspended in the third quarter under the influence of “double control”, and the magnesium price reached a new high. However, with the decline of ferrosilicon price, the magnesium price began to return.
According to the research report released by capital securities on December 24, in recent years, the magnesium consumption of automobile single vehicle in China has increased from 1.5kg in 2015 to nearly 5kg. According to the plan of energy saving and new energy vehicle technology roadmap 2.0 issued by China Society of automotive engineering, the weight of pure motorcycle will be reduced by 35% in 2035, and there will be a broad market space for magnesium alloy in automobile lightweight in the future.
In terms of lithium battery structural parts, the application prospect of magnesium alloy is promising. It is reported that the metal structural parts in the lithium battery pack mainly include battery shell, battery bracket and cell end plate. At present, it is mainly made of aluminum alloy. Some magnesium processing enterprises have begun to promote structural parts such as magnesium alloy battery tray and cell end plate to automobile enterprises, and the overall weight reduction effect is expected to reach 30%.
Taking Tesla models as an example, the total weight of aluminum alloy structural parts used in its battery pack is about 125kg. If all magnesium alloy hardware is used, the weight is expected to be reduced to about 80kg, and the weight reduction effect is up to 30%, which can effectively reduce the vehicle weight and improve the vehicle endurance and operation experience. At the same time, considering the normal fluctuation of magnesium and aluminum prices in recent years, the cost of magnesium alloy hardware can also be reduced by nearly 25%, and there is great market promotion potential in the future.
magnesium metal concept stocks rose much higher than the market as a whole
According to the statistics of securities times · data treasure, there are 13 companies whose main business of A-Shares covers magnesium metals. As of December 29, the market value of A-Shares totaled 377.5 billion yuan. The overall trend of these concept stocks during the year was good, with more than 70% of the increase outperforming the Shanghai index, with an average increase of 79.71%, 22.33 times that of the Shanghai index in the same period.
The company’s mining area is located in Chaerhan Salt Lake and Dalangtan salt lake. Chaerhan Salt Lake is the largest soluble potassium magnesium salt deposit in China. In addition to rich potassium and lithium resources, the company’s mining area also contains a lot of magnesium and sodium resources.
Magnesium metal leader Nanjing Yunhai Special Metals Co.Ltd(002182) rose 85.79% in total. The stock hit an all-time high on September 23. The company’s main products are magnesium alloy, aluminum alloy and deep-processing products, which are the main materials for automobile lightweight. The company disclosed in the semi annual report that the company has an annual production capacity of 100000 tons of raw magnesium and 180000 tons of magnesium alloy, and is ready to build a 300000 tons of high-performance magnesium based light alloy and 150000 tons of magnesium alloy deep-processing product project in Chizhou, Anhui Province.
Xinjiang Joinworld Co.Ltd(600888) increased by 51.18%. The subsidiary Xinjiang Joinworld Co.Ltd(600888) Jinyuan Magnesium Industry Co., Ltd. is responsible for mining development, research, production and sales of magnesium series products. The company also disclosed in the semi annual report that 100000 t / a magnesium oxide project is under construction.
From the valuation level, as of the closing on December 29, the rolling P / E ratio of six magnesium metal concept stocks was below 30 times. Beijing Lier High-Temperature Materials Co.Ltd(002392) P / E ratio of 12.39 times is at the lowest position. The company’s leading products are refractories and metallurgical charges, including unburned magnesium carbon, unburned magnesium aluminum (aluminum magnesium) carbon, etc. Liaoning magnesium refractory base is under construction.
According to the consistent forecast data of more than five institutions, Qinghai Salt Lake Industry Co.Ltd(000792) , Lizhong Sitong Light Alloys Group Co.Ltd(300428) , Western Mining Co.Ltd(601168) , Nanjing Yunhai Special Metals Co.Ltd(002182) the net profit of four shares in 2021 is expected to increase by more than 20% year-on-year, of which Western Mining Co.Ltd(601168) , Qinghai Salt Lake Industry Co.Ltd(000792) is predicted by the institutions to increase the net profit by more than twice.
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(data treasure)
