New military materials: the price of electrolytic cobalt fell slightly. (1) The price of electrolytic cobalt this week was 546000 yuan / ton, a month on month increase of – 2.0%. The ratio of electrolytic cobalt to cobalt powder was 0.84, with a ring ratio of – 2.0%; The price ratio of electrolytic cobalt and cobalt sulfate was 4.61, with a month on month ratio of – 1.4%. 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 186.3 yuan / kg, a month on month increase of + 0%. The gross profit is 57.07 yuan / kg, with a month on month ratio of – 0.7%. 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: electricity and carbon prices fell slightly for three 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 4982, 4783 and 491500 yuan / ton respectively, with a month on month ratio of – 0.8%, – 0.94% and + 0%. Wind shows that the contract price of electric carbon lc2206 is 436000 yuan / ton this week, with a month on month ratio of – 2.4%, and the discount has been nearly 62000 yuan / ton. Recently, due to the continuous high price of lithium salt, the purchase intention of downstream material factories has weakened, but at present, the downstream demand is still strong. The weekly output of lithium iron phosphate and ternary materials this week is 15085 tons and 10585 tons respectively, which is still in a high position in the year. In the future, we believe that the price of lithium salt will remain high and volatile. (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 895000 yuan / ton, a month on month increase of – 3.2%. (6) On Saturday, the price of lithium fluorophosphate was 445000 yuan / ton, with a month-on-month increase of – 5.3%, and the price was corrected by 19.1% in the past month.
New photovoltaic materials: EVA prices rose slightly. (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 23000 yuan / ton, up + 4.5% 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 + 0%.
The price of zirconium oxychloride, a new material for nuclear power, rose slightly. (1) This week, the prices of zirconium oxychloride, sponge zirconium, hafnium oxide, zirconium silicate and zircon sand were 25000 yuan / ton, 235 yuan / kg, 4500 yuan / kg, 20875 yuan / ton and 200625 yuan / ton respectively, with a month on month ratio of + 2.0%, + 0%, + 0%, + 0%, + 0%.
New consumer electronics materials: crude indium prices rose 14.6%. (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%, mainly due to the high price of raw material cobalt lithium. (2) The price of silicon carbide this week is 9000 yuan / ton, a month on month increase of + 0%; This week, the prices of high-purity gallium, crude indium and refined indium were 2725, 1575 and 1725 yuan / kg respectively, with a month on month increase of + 0%, + 14.5% and + 13.1% respectively. The sharp rise in indium prices was mainly due to the low circulation rate of raw materials in the field, resulting in high raw material prices, short supply in the crude indium market and higher production costs of refined indium processing plants; The price of germanium oxide on Tuesday was 6650 yuan / kg, a month on month increase of + 0%.
Other materials: platinum and rhodium prices fell slightly. (1) This week, the prices of 99.95% platinum, rhodium and iridium were 209, 4491.5 and 1255 yuan / g respectively, with a month on month ratio of – 2.3%, – 0.2% and + 0%.
It is suggested to pay attention to the target: it is suggested to continue to pay attention to the investment opportunities of new metal materials. 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.
