Index
On March 8, 2022, the Shanghai Composite Index closed at 329353 points, down 2.35%; The Shenzhen composite index closed at 1224450 points, down 2.62%; The coal industry index closed at 271750 points, down 5.43%. The top three companies are: St Tianshou, St continent, Shanghai Topcare Medical Services Co.Ltd(600532) . The non-ferrous metals index closed at 553725 points, down 4.87%. The top three companies are: Pengxin International Mining Co.Ltd(600490) , Jinhui shares, Yunnan Luoping Zinc&Electricity Co.Ltd(002114) .
Comments
Nickel prices continue to change, focusing on enterprises with cost advantages in the sector. Today, Lun nickel prices rose sharply, rising for two consecutive days, breaking the $100000 mark on March 8. The main contract of Shanghai nickel increased the limit for two consecutive days, and the main contract of stainless steel increased the limit to 22125 points today. In the coming period of time, the whole A-share market will also digest the inflation expectation brought by the peak of crude oil and usher in a better bottom building opportunity. Under the background of the current stable demand for stainless steel, it is expected that the demand for stainless steel will begin to rise in advance. At the important time point of continuous development of infrastructure construction, the prices of key raw materials such as iron ore are kept within a reasonable range under policy regulation, superimposed with the current cost support, supply inhibition and demand release are imminent, and the steel fundamentals are about to recover. The production elasticity and profit margin of iron and steel enterprises deserve attention.
On the other hand, the continuous fermentation of nickel price makes enterprises with their own nickel ore resources have unique cost advantages. 90% of Russia’s nickel output comes from Norilsk Nickel Industry, whose nickel raw materials account for about 9% of the global supply, but the output of high-grade nickel ore accounts for 22% of the global supply. Under the background of low global nickel inventory and continuous decontamination, it is easy to rise but difficult to fall. At this time, the arrival of Russian nickel in Hong Kong was blocked by Britain and other countries, which directly triggered concerns about delivery products, and the nickel price soared. Structurally, Russian nickel accounts for half of the European import market. Superimposed with many factors such as short positions and restrictions on Russian nickel by LME exchange, enterprises with their own nickel resources will have more profit growth points. Related objects: Gem Co.Ltd(002340) , St Huaze.
Industry dynamics
According to foreign media, Chile’s constitutional assembly approved an early proposal on regulations related to large-scale mining of copper, lithium and gold on Saturday, further promoting the nationalization of copper and lithium mines in Chile. (Lange steel mesh)
Company dynamics
Mianyang Fulin Precision Co.Ltd(300432) ( Mianyang Fulin Precision Co.Ltd(300432) ): on March 8, the investor interaction platform said that the subsidiary Jiangxi sublimation lithium iron phosphate has an annual production capacity of 62000 tons, of which 50000 tons of capacity of Shehong base has reached the production capacity in December 2021. The 60000 tons of lithium iron phosphate cathode material project with an annual output of 250000 tons planned by the company in July 2021 is under accelerated construction. Hengxinrong lithium industry, a joint-stock company of the company, has a lithium carbonate plant with an annual output of 20000 tons. (wind information)
Risk tip: the macro-economy is less than expected and geopolitical risks are escalating.
