New military materials: the price of electrolytic cobalt picked up slightly. (1) The price of electrolytic cobalt this week was 560000 yuan / ton, a month on month increase of + 0.9%. The ratio of electrolytic cobalt to cobalt powder was 0.87, with a ring ratio of – 1.0%; The price ratio of electrolytic cobalt and cobalt sulfate was 4.67, with a month on month ratio of – 0.4%. These two ratios show that the performance of military industry has weakened relative to manufacturing and new energy vehicles this week. (2) The price of carbon fiber this week was 186.8 yuan / kg, a month on month increase of + 0%. The gross profit is 57.51 yuan / kg, with a month on month ratio of – 1.0%. The price and gross profit are at a high level in the past 20 years. (3) The prices of titanium, rhenium and beryllium were the same as last week.
New materials for new energy vehicles: the contract price of electric carbon in June is rarely lower than the current market price. (1) This week, the CIF price of li2o5% lithium concentrate in China has reached US $2735 / ton, with a month on month increase of + 0.7%. (2) This week, the prices of electric carbon, industrial carbon and battery grade lithium hydroxide were 503300 yuan / ton, 476700 yuan / ton and 469300 yuan / ton respectively, with a month on month ratio of + 6.9%, + 5.26% and + 7.6%. Wind shows that the contract price of electric carbon lc2206 is 493500 yuan / ton this week, with a month on month ratio of – 2%, which is rarely lower than the current market price of electric carbon in history. In February, affected by the Spring Festival, the output of Shanxi Guoxin Energy Corporation Limited(600617) vehicles in China was 368000, down 18.6% month on month from January, but the penetration rate of new energy vehicles reached 20.3%, a record high. The average weekly output of lithium carbonate in the first two weeks of March was 4081 tons, an increase of 9% over the average weekly output of 3737 tons in February. Due to the limited heating season in Qinghai, the output of gas is not limited. (3) This week, the price of cobalt sulfate was 118000 yuan / ton, a month on month increase of + 1.7%. (4) This week, the prices of lithium iron phosphate, 523 and 811 cathode materials were 16800 yuan / ton, 371000 yuan / ton and 354500 yuan / ton respectively, with a month on month ratio of + 2.44%, + 3.2% and + 0%. The rise in lithium iron phosphate was mainly due to the rise in the prices of raw materials lithium carbonate, phosphoric acid and iron phosphate. (5) This week, the price of praseodymium and neodymium oxide was 1.055 million yuan / ton, a month on month increase of – 4.5%. On March 3, the rare earth office of the Ministry of industry and information technology interviewed key enterprises and asked them not to participate in market speculation and hoarding goods, so as to guide product prices to return to rationality.
New photovoltaic materials: photovoltaic glass and EVA prices rose slightly. (1) This week, the price of photovoltaic grade polysilicon was US $33.07/kg, with a month on month ratio of – 0.4%. The price is still at a high level in recent six years. (2) The price of EVA this week was 21500 yuan / ton, up + 4.9% month on month, maintaining a high position since 2013. (3) This week, the coating price of 3.2mm photovoltaic glass was 26 yuan / m2, a month on month increase of + 4%.
The prices of new nuclear power materials: Zircon sand and zirconium silicate increased slightly. (1) This week, the prices of zirconium oxychloride, sponge zirconium, hafnium oxide, zirconium silicate and zircon sand were 24500 yuan / ton, 235 yuan / kg, 4500 yuan / kg, 20875 yuan / ton and 200625 yuan / ton respectively, with a month on month ratio of + 0%, + 0%, + 0%, + 2.5% and + 2.6%.
New materials for consumer electronics: cobalt varieties have improved in price. (1) On Thursday, the price of cobalt trioxide was 437500 yuan / ton, a month on month increase of + 1.2%. This week, the price of lithium cobaltate was 594.0 yuan / kg, a month on month increase of + 3.5%, mainly due to the high price of raw material cobalt lithium. (2) This week, the price of silicon carbide is 9500 yuan / ton, with a month on month increase of + 3.3%; This week, the prices of high-purity gallium, crude indium and refined indium were 2625, 1375 and 1525 yuan / kg respectively, with a chain comparison of + 0%, + 0% and + 0% respectively; On Tuesday, the price of germanium oxide was 6750 yuan / kg, a month on month increase of + 0%.
Other materials: iridium prices rose 12.7%. (1) This week, the prices of 99.95% platinum, rhodium and iridium were 230, 471650 and 1155 yuan / g respectively, with a month on month ratio of – 0.9%, – 0.3% and + 12.7%.
It is suggested to pay attention to the target: continue to be optimistic about the new metal materials sector in an all-round way. The high price of lithium concentrate is still good for enterprises with high self-sufficiency rate of lithium resources. It is suggested to pay attention to Tianqi Lithium Corporation(002466) , Youngy Co.Ltd(002192) , Ganfeng Lithium Co.Ltd(002460) ; The construction of a world-class Salt Lake industrial base in Qinghai has been mentioned again. China’s independent and controllable salt lake resources are of great strategic significance. It is suggested to pay attention to Qinghai Salt Lake Industry Co.Ltd(000792) , Keda Industrial Group Co.Ltd(600499) , Sunresin New Materials Co.Ltd Xi’An(300487) .
Risk warning: over valuation risk; Risk of technology path change; Risks such as radical enterprise operation, deviation of strategy, governance failure, macro policy and liquidity adjustment.
