New military materials: the price of electrolytic cobalt fell slightly. (1) The price of electrolytic cobalt this week was 498000 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 + 1.7%; The price ratio of electrolytic cobalt and cobalt sulfate was 5.08, with a ring ratio of + 3.0%. These two ratios show that the performance of military industry is stronger than that of 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 was 57.11 yuan / kg, a month on month increase of + 0.7%. Both the price and gross profit were at a high level in the past 20 years. (3) The prices of titanium, rhenium and beryllium were the same as last week.
New materials for new energy vehicles: the price of electric carbon rose for the first time in nearly 9 weeks, but the gross profit at the smelting end reached a new low since the end of January 2022. (1) This week, the CIF price of li2o5% lithium concentrate in China has reached US $4350 / ton, a month on month increase of + 12.99%. (2) This week, the prices of electric carbon, industrial carbon and battery grade lithium hydroxide were 456000 yuan / ton, 421000 yuan / ton and 467500 yuan / ton respectively, with a month on month increase of + 0.2%, – 0.44% and – 0.1%. Wind shows that the contract price of electric carbon lc2207 this week was 449500 yuan / ton, with a month on month increase of + 5%, and the discount narrowed to 6500 yuan / ton. Electricity and carbon prices rose for the first time in nearly nine weeks, but the gross profit at the smelting end was 169000 yuan / ton this week, a new low in nearly 18 weeks. Downstream demand continues to be strong. The output of lithium iron phosphate and ternary materials this week was 16500 tons and 10405 tons, with a month on month ratio of + 0.43% and + 0.29%, of which the weekly output of lithium iron phosphate once again hit a new high in the year. (2) This week, the price of cobalt sulfate was 98000 yuan / ton, a month on month increase of + 0%. (3) This week, the prices of lithium iron phosphate, 523 and 811 cathode materials were 15500 yuan / ton, 34800 yuan / ton and 354500 yuan / ton respectively, with a month on month ratio of + 0%, – 0.3% and + 0%. (4) This week, the price of praseodymium and neodymium oxide was 925000 yuan / ton, with a month on month increase of + 0.8%. (5) The price of lithium hexafluorophosphate was 305000 yuan / ton, a month on month increase of – 7.6%, and the price callback in the past month was 26.5%.
New photovoltaic materials: polysilicon prices fell slightly. (1) This week, the price of photovoltaic grade polysilicon was US $31.84/kg, with a month on month ratio of – 0.4%. The price is still at a high level in recent six years. (2) EVA price this week was 26200 yuan / ton, with a month on month increase of + 0%, maintaining a high position since 2013. (3) The coating price of 3.2mm photovoltaic glass this week was 28.5 yuan / m2, a month on month increase of + 0%.
New nuclear power materials: zirconium products prices slightly callback. (1) This week, the prices of zirconium oxychloride, sponge zirconium, hafnium oxide, zirconium silicate and zircon sand were 24083 yuan / ton, 250 yuan / kg, 4500 yuan / kg, 20813 yuan / ton and 198625 yuan / ton respectively, with a month on month ratio of – 3.7%, + 0%, + 0%, – 0.3% and – 0.5%.
New materials for consumer electronics: the price of high-purity gallium soared by 16%, reaching a new record. (1) On Thursday, the price of cobalt trioxide was 397500 yuan / ton, a month on month increase of + 0%. The price of lithium cobaltate this week was 532.0 yuan / kg, a month on month increase of – 2.4%. (2) This week, the price of silicon carbide is 8700 yuan / ton, with a month on month ratio of – 1.1%; This week, the prices of high-purity gallium, crude indium and refined indium were 3575, 1375 and 1475 yuan / kg respectively, with a month on month ratio of + 16.3%, – 3.8% and – 3.6% respectively; On Tuesday, the price of germanium oxide was 6450 yuan / kg, a month on month increase of – 1.5%.
Other materials: platinum and rhodium prices fell slightly. (1) This week, the prices of 99.95% platinum, rhodium and iridium were 219, 4031.5 and 1225 yuan / g respectively, with a month on month ratio of – 1.8%, – 0.8% and + 0%.
It is suggested to pay attention to the target: continue to be optimistic about the new metal materials sector in an all-round way. 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.
