Events
The current quotation of lithium carbonate is 45 Tianma Microelectronics Co.Ltd(000050) 0000 yuan / ton.
On May 17, on the Jingdong bankruptcy auction platform, the subject of the auction was 542857% equity of Yajiang snowway mining held by Xingneng new materials. As of 17:00, the auction with the starting price of only 3.35 million yuan had attracted 12 enterprises or individuals to bid for 1281 times, with nearly 200000 onlookers. The latest bidding had exceeded 155 million yuan, and the lithium mine was hot auctioned.
Key investment points
The price of lithium carbonate remained strong, and the auction price of PLA’s latest lithium concentrate reached US $5650 / ton. Affected by the epidemic, the sales volume of new energy vehicles in April was 290000, down 33% month on month, but the price of lithium carbonate was still relatively strong. The price was sideways at 45 Tianma Microelectronics Co.Ltd(000050) 0000 yuan / ton in May. At present, the market is waiting for sqm’s quotation for the first two battery companies in July, which is expected to remain in the price range of 4 Shenzhen Fountain Corporation(000005) 00000 yuan / ton. At the end of April, Pilbara, Australia, held the first lithium concentrate auction in 2022, with a transaction price of US $5650 / ton, an increase of 140% compared with us $2350 / ton in the last October auction. The sharp rise of the auction price shows that the lithium concentrate market is still in short supply. Pls plans to auction 5000 tons of lithium concentrate on BMX platform for the fifth time on May 24, and the price is expected to continue to break through.
Lithium carbonate prices have the flexibility to continue to rise, depending on the space for demand growth. At present, the demand is affected by the epidemic in the short term. Once the supply chain starts to recover, the marginal demand is improved, and the price of lithium carbonate has the flexibility to continue to rise. From the current ore price cost of US $5650, it is estimated that the cost of lithium carbonate in China has reached 380000 Yuan / ton. The quotation of overseas lithium mines is the key cost of lithium carbonate in China and the guide for the price increase of lithium carbonate in the second half of the year. There is no obvious inflection point in the price this year, which is expected to remain at 4 Shenzhen Fountain Corporation(000005) 00000 yuan / ton. The space for upward price elasticity also depends on the space for demand growth.
Sichuan lithium mine has been auctioned, and the lithium industry has attracted great attention from the market. The lithium miner in this auction is Yajiang snowway mining. This auction is to transfer the control right. The lithium mine is located in Yajiang, Sichuan. It belongs to methylka spodumene mining area. It has 213200 tons of lithium oxide resources with a taste of 1.34%. From the auction point of view, it is very popular, and the lithium industry has attracted great attention from the market.
Investment suggestion: lithium mine is the sector with the most definite and flexible performance in the mid-term report of the whole market. Lithium mine is the core resource of the electric vehicle and energy storage industry chain, and will continue to enjoy high growth and high profit.
Risk factors: the sales volume of electric vehicles does not meet expectations; Industry competition intensifies; Lithium carbonate prices fell; Policy uncertainty of new energy vehicle industry.
