New military materials: Electrolytic Cobalt prices rose slightly. (1) The price of electrolytic cobalt this week was 509000 yuan / ton, a month on month increase of + 2.0%. The price ratio of electrolytic cobalt and cobalt powder was 0.84, with a month on month ratio of + 2.0%; The price ratio of electrolytic cobalt and cobalt sulfate was 4.87, with a month on month ratio of + 1.8%. 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 186.8 yuan / kg, a month on month increase of + 0%. The gross profit is 62.45 yuan / kg, a month on month increase of + 0%. The price and gross profit are at a high level in the past 20 years. (3) The prices of titanium, rhenium and beryllium were the same as last week.
New energy vehicles and new materials: when terminal vehicle enterprises raise prices. (1) This week, the CIF price of li2o5% lithium concentrate in China has reached US $2685 / ton, an increase of + 0.4% month on month. (2) This week, the prices of electric carbon, industrial carbon and battery grade lithium hydroxide were 3390, 32200 and 280400 yuan / ton respectively, with a month on month ratio of + 7.1%, + 6.85% and + 8.9%. The rise of raw material prices and the decline of subsidies prompted terminal vehicle enterprises to raise prices one after another. On January 21, 2022, Byd Company Limited(002594) announced the adjustment of the official guided price of its new energy models, ranging from 1000-7000 yuan. Previously, Tesla, FAW Volkswagen, Nezha, Xiaopeng, GAC AIAN, leader and other new energy models also raised prices. (3) This week, the price of cobalt sulfate was 105000 yuan / ton, a month on month increase of + 0%. (4) This week, the prices of lithium iron phosphate, 523 and 811 cathode materials were 13100 yuan / ton, 27200 yuan / ton and 304500 yuan / ton respectively, with a month on month ratio of + 3.97%, + 2.1% and + 4.1%. The price of lithium iron phosphate increased by 29.7% in the past 30 days, mainly due to the rise in the prices of raw materials lithium carbonate, phosphoric acid and iron phosphate. (5) This week, the price of praseodymium and neodymium oxide was 922500 yuan / ton, a month on month increase of + 2.2%.
New photovoltaic materials: polysilicon prices rose slightly. (1) This week, the price of photovoltaic grade polysilicon was US $32.05/kg, with a month on month increase of + 4.9%. The price is still at a high level in recent six years. (2) This week, the price of EVA was 17800 yuan / ton, a month on month increase of + 0%, maintaining a high position since 2013. (3) This week, the coating price of 3.2mm photovoltaic glass is 25 yuan / m2, with a month on month increase of + 0%.
The prices of new nuclear power materials: Zircon sand and zirconium silicate increased slightly. (1) This week, the prices of zirconium oxychloride, sponge zirconium, hafnium oxide, zirconium silicate and zircon sand were 23000 yuan / ton, 235 yuan / kg, 4500 yuan / kg, 19050 yuan / ton and 17700 yuan / ton respectively, with a month on month ratio of + 0%, + 0%, + 2.4%, + 2.5%. New consumer electronics materials: lithium cobaltate prices picked up slightly. (1) On Thursday, the price of cobalt trioxide was 412500 yuan / ton, a month on month increase of + 0%. The price of lithium cobaltate this week was 505 yuan / kg, a month on month increase of + 2%, mainly due to the high price of raw material cobalt lithium. (2) The price of silicon carbide this week is 8300 yuan / ton, a month on month increase of + 0%; This week, the prices of high-purity gallium, crude indium and refined indium were 2525, 1425 and 1545 yuan / kg respectively, with a chain comparison of + 0%, – 3.4% and – 1.9% respectively; On Tuesday, the price of germanium oxide was 6600 yuan / kg, a month on month increase of + 0%.
Other materials: prices rise and fall. (1) This week, the prices of 99.95% platinum, rhodium and iridium were 224, 3940.5 and 935 yuan / g respectively, with a month on month ratio of + 6.2%, + 2.2% and – 1.9%.
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 recommended 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. Risk of overvaluation; Risk of technology path change; Risks such as radical enterprise operation, deviation of strategy, governance failure, macro policy and liquidity adjustment.
