According to the “industrial operation monitoring report (I) in the first quarter of 2022” released by China Academy of information and communications on the 22nd, the price of raw materials in key links continued to rise rapidly in March 2022, the superimposed shipping cost remained high, and the profits of middle and downstream enterprises continued to be under pressure.
Affected by the complex and changeable foreign situation, imbalance between supply and demand and speculation in the capital market, Brent crude oil and WTI crude oil futures on the New York Stock Exchange broke through $110 and $120 per barrel in March 2022, of which the two oil prices hit a new high in recent 14 years on March 8.
The report said that the rapid rise in energy prices led to the rise of China’s import costs. In the first quarter of this year, the average import prices of China’s crude oil, refined oil and natural gas increased by 56.1%, 37.4% and 78% respectively compared with the same period last year. According to the report, it is necessary to pay attention to the damage of the oil refining industry and the rising operating costs of downstream industries such as textile and light industry under the rapid rise of oil prices.
At the end of March, LME copper and aluminum rose 6.7% and 25.4% respectively over the beginning of the year. According to the report, we need to pay attention to the impact of rising costs in power equipment, light industry, household appliances, automobiles, building materials and other industries.
In March, shipping prices continued to be high. The Baltic dry bulk index (BDI) and China export container freight index (CCFI) increased by 22.1% and 74.2% year-on-year respectively under the high base of 236% and 113% in the same period last year. The report said that the continued high shipping prices will raise the logistics costs of foreign trade enterprises and squeeze export profits.
Lithium nickel, the raw material of new energy vehicles, hit a record high, while cobalt continued to operate at a high level. According to the report, the prices of raw materials in key links such as lithium, cobalt and nickel have risen sharply, increasing the manufacturing cost of new energy vehicles. Since the middle of last year, the prices of lithium iron phosphate cell and ternary cell have increased by about 50% and 57.1% respectively. Since March, GAC, Byd Company Limited(002594) , Xiaopeng, Tesla and other new energy vehicle enterprises have announced price increases of more than 70 models involving 30 Jinzai Food Group Co.Ltd(003000) 0 yuan.
