New military materials: the price of electrolytic cobalt fell slightly. (1) The price of electrolytic cobalt this week was 557000 yuan / ton, a month on month increase of – 2.3%. The ratio of electrolytic cobalt to cobalt powder was 0.86, with a ring ratio of – 2.3%; The price ratio of electrolytic cobalt and cobalt sulfate was 4.67, with a month on month ratio of – 1.7%. 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 186.3 yuan / kg, a month on month increase of + 0%. The gross profit is 57.47 yuan / kg, with a month on month ratio of – 0.3%. 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 energy vehicles and new materials: lithium carbonate output rose for eight consecutive weeks. (1) This week, the CIF price of li2o5% lithium concentrate in China has reached US $2775 / ton, a month on month increase of + 0%. (2) This week, the prices of electric carbon, industrial carbon and battery grade lithium hydroxide were 502700 yuan / ton, 483300 yuan / ton and 491500 yuan / ton respectively, with a month on month ratio of – 0.3%, – 0.34% and + 0.1%. Wind shows that the contract price of electric carbon lc2206 is 446500 yuan / ton this week, with a month on month ratio of – 3.4%, and the discount has been nearly 56000 yuan / ton. After Pilbara expressed that the auction price of lithium concentrate may reach US $6000 / ton, allkem also mentioned in the announcement on April 1 that the possibility of lithium concentrate price reaching US $5000 / ton in the second quarter will be discussed, and the high price of raw materials will promote the accelerated development of lithium resources in China. This week, China’s lithium carbonate output was 4217 tons, which has risen for eight consecutive weeks, reaching a new high in the year. (3) This week, the price of cobalt sulfate was 118000 yuan / ton, a month on month increase of + 0%. (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 + 0%, + 0% and + 0%. (5) This week, the price of praseodymium and neodymium oxide was 925000 yuan / ton, a month on month increase of – 6.6%. (6) On Saturday, the price of lithium fluorophosphate was 470000 yuan / ton, with a month on month decrease of 14.55%.
New photovoltaic materials: the prices of main products were flat month on month. (1) This week, the price of photovoltaic grade polysilicon was $32.87/kg, a month on month increase of + 0%, and the price is still at a high level in recent six years. (2) The price of EVA this week was 22000 yuan / ton, a month on month increase of + 0%, 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 + 0%.
New nuclear power materials: the prices of main products were flat month on month. (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%, + 0%, + 0%.
Consumer electronics new materials: silicon carbide prices callback 5.3%. (1) On Thursday, the price of cobalt trioxide was 437500 yuan / ton, a month on month increase of + 0%. The price of lithium cobaltate this week was 600.0 yuan / kg, a month on month increase of + 0%. (2) This week, the price of silicon carbide is 9000 yuan / ton, with a month on month ratio of – 5.3%; This week, the prices of high-purity gallium, crude indium and refined indium were 2725, 1375 and 1525 yuan / kg respectively, with a chain comparison of + 1.9%, + 0% and + 0% respectively; On Tuesday, the price of germanium oxide was 6650 yuan / kg, a month on month increase of – 1.5%.
Other materials: platinum and rhodium prices rose and fell. (1) This week, the prices of 99.95% platinum, rhodium and iridium were 214, 4502.5 and 1255 yuan / g respectively, with a month on month ratio of – 4.0%, + 4.2% and + 0%.
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 price of lithium concentrate is still at a high level. 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.
