Core conclusion
Biodiesel and EVA prices rise:
The continuous rise of global corn, soybean and palm oil led to the sharp rise of biodiesel prices. This week, the prices of fame, RME, SME and PME were 1982.8 US dollars / metric ton, 2137.8 US dollars / metric ton, 2052.8 US dollars / metric ton and 1812.8 US dollars / metric ton respectively, up 17.37%, 15.91%, 16.68% and 19.32% respectively compared with last week. EVA price this week rose by + 5.9% month on month to 22600 yuan / ton. The price of acetic acid at the raw material end increased slightly, and the cost side improved as a whole. At present, photovoltaic demand is dominant, downstream demand is obviously strong, and manufacturers tend to produce photovoltaic.
Yunnan Yuntianhua Co.Ltd(600096) united with Yuxi Municipal government, Eve Energy Co.Ltd(300014) , Yunnan Energy New Material Co.Ltd(002812) and Huayou holdings to march into clay lithium ore and lithium battery materials, and the upstream and downstream are deeply united, which may be the general trend of the development of lithium battery materials industry. On February 16, Yunnan Yuntianhua Co.Ltd(600096) announced the establishment of two joint ventures with Yuxi Municipal People’s government, Yunnan Energy New Material Co.Ltd(002812) , Eve Energy Co.Ltd(300014) and Huayou holdings in Yuxi City. The specific cooperation includes: 1) joint development of clay lithium mine; 2) investment of about 51.7 billion in the construction of battery supporting projects such as new energy battery, lithium battery isolation membrane, iron phosphate, lithium iron phosphate and copper foil projects, respectively, in 2023 and 2023 It will be completed before 2025 and 2030. This cooperation combines phosphate rock, lithium battery, diaphragm and cathode enterprises. The entry of upstream and downstream roles will provide strong resource support and technical support for the implementation of the project, which is expected to become the long-term development trend of lithium battery industry.
Special recommendation of this week: ion exchange and adsorption resin
The downstream market has high demand and high potential, laying an incremental space for the ion exchange resin industry. In the traditional sector, the most widely used field of ion exchange and adsorption resin is industrial water treatment, accounting for more than 65% of the total industry. The annual growth rate of 4% of the installed power generation capacity of the downstream thermal power industry will lead to a steady increase in resin demand. It is expected that China will increase the demand for industrial water treatment resin by at least 12700 tons from 2020 to 2025. In the emerging sector, salt lake lithium extraction is the most attractive application field. With reference to the growth rate of new energy vehicles and the charging capacity of single vehicle, the demand for lithium carbonate in China / globally will be equivalent to the demand for lithium resin of 108 / 324000 tons in 2025, and the CAGR will be 14.3% / 29% respectively. In the field of ultra pure water, the rapid growth of the semiconductor industry and the steady increase of nuclear power installed capacity have also become important weights to support the demand for ultra pure water in the upstream. In 2020, the total demand for ultra pure water resin in the world will be 21700 tons, which is expected to increase to 34600 tons in 2027, with a CAGR of 6.9%.
It is suggested to pay attention to: Sunresin New Materials Co.Ltd Xi’An(300487) ( Sunresin New Materials Co.Ltd Xi’An(300487) . SZ), Zhejiang Zhengguang Industrial Co.Ltd(301092) ( Zhejiang Zhengguang Industrial Co.Ltd(301092) . SZ).
Risk warning: the implementation of relevant policies is not as expected
