Market review:
Last week, the new materials sector rose 5.93%, while the Shanghai and Shenzhen 300 index rose 2.23% in the same period. The new materials sector led the market by 3.70 percentage points. In terms of individual stocks, 85 of the 100 stocks in the sector rose, and 67 outperformed the market. The top five gainers were Levima Advanced Materials Corporation(003022) (19.24%), Jiangxi Firstar Panel Technology Co.Ltd(300256) (18.14%), Hoshine Silicon Industry Co.Ltd(603260) (17.43%), Shanghai Pret Composites Co.Ltd(002324) (13.41%), Shanghai Hiuv New Materials Co.Ltd(688680) (10.76%); The top five declines were Chengzhi Co.Ltd(000990) (- 9.24%), Sinofibers Technology Co.Ltd(300777) (- 6.11%), Jiangsu Boiln Plastics Co.Ltd(301003) (- 6.06%), Yifan Pharmaceutical Co.Ltd(002019) (- 4.39%) and Lushan Xincai (- 2.92%).
Industry hot spots:
Lithium hexafluorophosphate: since May, the price of lithium hexafluorophosphate has declined since the beginning of the year. According to the data of Baichuan Yingfu, as of May 20, the average price of lithium hexafluorophosphate in the Chinese market fell to 290000 yuan / ton, down 3.33% week on week, 30.95% month on month and 47.27% year on year. Prices have weakened significantly, and there is no market for retail orders. The price of anhydrous fluorinated raw materials remains stable. Affected by the epidemic control, prices still show a trend of north-south differentiation. At present, many manufacturers execute orders from old customers, and there is less spot circulation. The tight supply situation still exists. Affected by the sluggish downstream demand at the supply side, the supply volume and operating rate continued to decline. During the week, the output of lithium hexafluorophosphate is expected to be 1670 tons, with a week-on-week decrease of 1.36%, the operating rate of 73.86% and a month-on-month decrease of 1.36%. The enterprise continues to reduce the load production. Lithium hexafluorophosphate on the demand side is mainly used in the lithium battery electrolyte industry. At present, the average market price has fallen to 79000 yuan / ton, down 1.86% on a weekly basis, 14.59% on a monthly basis and 34.17% on a month on month basis; The average price of ternary / conventional power electrolyte fell to 99500 yuan / ton, down 4.78% on a weekly basis, 14.59% on a monthly basis and 31.14% on a year earlier. At present, spot transactions are cold, market supply and demand are basically the same, and the overall supply remains low. The demand side electrolyte market is generally weak, and the demand recovers slowly. It is expected that the price may be under pressure in the short term.
Lithium iron phosphate: at present, the downstream inquiry enthusiasm of lithium iron phosphate is not high, and the profit space is compressed. According to the data of Baichuan Yingfu, the current market power price is 156000 yuan / ton, and the energy storage price is 149000 yuan / ton, which are the same as last week. The main raw materials for the production of lithium iron phosphate are lithium carbonate and iron phosphate. At present, the price of lithium carbonate and iron phosphate is strong, the cost pressure is gradually increasing, and the price of battery grade lithium carbonate remains high, continuously compressing the profit space. The output of lithium iron phosphate this week will be slightly higher than that of last week. Affected by the price of upstream lithium carbonate, the price of bulk trade will rise, and the price of long-term association will remain high, driving the price of lithium iron phosphate manufacturers to stabilize temporarily. At present, the lithium iron phosphate device is in normal production and the capacity is expanding rapidly. However, due to the fact that the downstream auto enterprises have not yet recovered to the original level, the downstream demand follow-up may not be as expected. This week, the overall demand of terminal new energy vehicle enterprises is weak, resulting in that most manufacturers just need to take the goods, the intention to inquire about the goods is significantly negative than before, the transaction is lower, and there is no obvious consumption of inventory. It is expected that with the gradual recovery of the terminal market in the near future, the profit of lithium iron phosphate material will rise in the future.
Lower than expected risk factors; The domestic substitution process of core materials is less than expected; The construction progress of capacity under construction is less than expected; The price of raw materials fluctuated sharply.
