Market review: this week, the Shanghai Composite Index fell 3.87% to 308692 points; The CSI 300 index fell 4.19% to 401325; SW nonferrous metals industry index fell 8.08% this week to 466677 points, ranking 26th among the 28 primary industries of a shares. In terms of molecular industries, among the five secondary sub industries of the non-ferrous metal industry this week, industrial metals, precious metals, small metals, energy metals and new metal materials fell by 7.63%, 7.06%, 8.75%, 9.62% and 4.89% respectively.
Price data of key metals: copper, aluminum, zinc, lead, nickel and tin in the previous period of this week closed at 75010 yuan / ton, 21920 yuan / ton, 28445 yuan / ton, 15725 yuan / ton, 238580 yuan / ton and 336300 yuan / ton respectively, with changes of 0.62%, 0.80%, 0.98%, 1.94%, 4.59% and – 0.27% respectively compared with last week; This week, London LME copper, aluminum, zinc, lead, nickel and tin closed at US $10069 / ton, US $3245 / ton, US $4393 / ton, US $2387 / ton, US $33150 / ton and US $42225 / ton respectively, with changes of – 2.38%, – 1.25%, – 0.43%, – 1.97%, – 0.08% and – 1.90% respectively compared with last week. Gold and silver closed at US $1935.5% and US $1932.2% respectively, up from US $1935.5% and US $193250% respectively this week. Praseodymium neodymium oxide, terbium oxide, dysprosium oxide and sintered neodymium iron boron N35 blanks closed at 835000 yuan / ton, 14.1 million yuan / ton, 2.59 million yuan / ton and 257.5 yuan / kg respectively this week, with changes of 1.83%, 11.02%, 6.15% and 0% respectively compared with last week. This week, the prices of battery grade lithium carbonate, industrial grade lithium carbonate, battery grade lithium hydroxide and Australian lithium concentrate closed at 475445 yuan / ton, 455000 yuan / ton, 502333 yuan / ton and 3100 US dollars / ton respectively, with changes of – 1.04%, – 2.15%, – 1.95% and 9.73% respectively compared with last week. This week, China’s electrolytic cobalt, MB electrolytic cobalt, cobalt trioxide and cobalt sulfate closed at 563000 yuan / ton, 39.95 US dollars / pound, 428000 yuan / ton and 116500 yuan / ton respectively, with changes of 0.54%, 0.19%, – 2.06% and – 0.85% respectively compared with last week.
Investment suggestion: Although the epidemic situation in China is still serious, the resumption of work and production of the manufacturing industry is proceeding in an orderly manner with the promotion of all parties. This week, 70% of the 666 key enterprises in Shanghai have resumed work and production, SAIC, Tesla and other complete vehicle enterprises have completed the offline production of complete vehicles, Contemporary Amperex Technology Co.Limited(300750) Shanghai Lingang Holdings Co.Ltd(600848) factories have resumed production, and relevant parts supporting enterprises have also resumed work one after another. The Ministry of industry and information technology, the Ministry of communications and other ministries and commissions have jointly issued a voice to ensure smooth logistics and stable supply chain of the industrial chain, so as to support enterprises to resume work and production in an orderly manner. With the resumption of work and production, the operating rate and capacity utilization rate of the new energy vehicle industry are expected to increase one after another, and the demand for lithium salt in the upstream of the industrial chain will also be marginally improved. From the performance forecast of the first quarterly report, the performance of enterprises in the lithium sector continues to release significantly. After the sharp correction of the overall sector in the early stage, the current annualized valuation is in a very low position, the allocation cost performance is high, and the rebound of the lithium sector will also be driven by the favorable recovery of downstream production. It is suggested to pay attention to Ganfeng Lithium Co.Ltd(002460) ( Ganfeng Lithium Co.Ltd(002460) ), Tianqi Lithium Corporation(002466) ( Tianqi Lithium Corporation(002466) ), Sinomine Resource Group Co.Ltd(002738) ( Sinomine Resource Group Co.Ltd(002738) ), Yongxing Special Materials Technology Co.Ltd(002756) ( Yongxing Special Materials Technology Co.Ltd(002756) ), Sichuan Yahua Industrial Group Co.Ltd(002497) ( Sichuan Yahua Industrial Group Co.Ltd(002497) ) Chengxin Lithium Group Co.Ltd(002240) Chengxin Lithium Group Co.Ltd(002240) ）、 Youngy Co.Ltd(002192) Youngy Co.Ltd(002192) ）、 Jiangxi Special Electric Motor Co.Ltd(002176) Jiangxi Special Electric Motor Co.Ltd(002176) ）、 Sichuan New Energy Power Company Limited(000155) Sichuan New Energy Power Company Limited(000155) ）。 Under the severe epidemic situation in China and the requirements of stable growth, monetary easing and financial support are expected to be strengthened. Wang Yiming, member of the monetary policy committee of the central bank, said that he would implement greater macro policies to hedge the impact of the epidemic, so that the economic growth in the second quarter could return to more than 5%. Infrastructure investment and real estate investment may become the main driving force of policies under the situation of stable growth in the future. The infrastructure investment data in the first quarter has rebounded significantly, while the real estate policy in many places has also been relaxed. Further supporting policies may be issued in the future. The industrial metals in the upstream of the real estate industry chain and infrastructure industry chain may rise with the recovery of downstream demand, It is suggested to pay attention to the leading enterprises of industrial metal sector. It is suggested to focus on the leading enterprises of industrial metal sector. It is suggested to pay attention to the leading enterprises of industrial metal sector. It is suggested to focus on the leading enterprises of industrial metal sector. It is suggested to pay attention to the leading enterprises of industrial metal sector. It is suggested to focus on the leading enterprises of industrial metal sector. It is suggested to focus on the leading enterprises of industrial metal sector. The Zijin Mining Group Company Limited(601899) \ ( Yunnan Chihong Zinc & Germanium Co.Ltd(600497) ).
