Zhu Lingwu, a reporter from the Securities Times
Recently, a variety of small metal prices have risen, tungsten prices have been rising for several days in a row, and antimony prices have exceeded 110000 yuan / ton. The analysis shows that the supply continues to contract and the demand side gradually picks up, and the strong upward trend of small metal prices has been shown.
Prices of antimony, molybdenum and tungsten have risen generally.
According to Databao statistics, on May 13, the price of tungsten concentrate in Jiangxi was 15.Kenojackpots350,000 yuan per ton, up 21.34 percent from 126500 yuan per ton on April 1, up 25.58 percent from the beginning of the year, and has been at an all-time high of nearly 10 years.
Baichuan Yingfu data also show that on May 13, domestic tungsten prices rose. Among them, ammonium paratungstate, tungsten powder and scheelite concentrate increased by 1.79%, 1.53% and 1.33% respectively compared with May 10. Baichuan Yingfu said that last week, mine output remained low, raw materials showed a strong situation, the trading atmosphere was relatively good, the supply and demand side of the stalemate game, the market wait and see macro news, tungsten concentrate prices are expected to continue to rise this week.
According to a research report issued by Huaan Securities, under the background of total quantity control, China's tungsten mines are faced with problems such as declining grade and rising cost. in addition, there is great uncertainty about the timing of potential projects at home and abroad. At the same time, the demand for downstream photovoltaic tungsten wire and cemented carbide is growing steadily, and the contradiction between supply and demand of tungsten resources has become increasingly prominent.
Not only the price of tungsten has risen, but the prices of other small metals such as antimony and rare earths have also risen to varying degrees. Due to the safety reduction of production and the decline of imports in domestic mines, the end of raw materials continues to be tight, and the price of antimony exceeds 110000 yuan / ton. Huafu Securities believes that short-term flame retardant plus photovoltaic resonance boosts demand recovery, the spot market is tight, and antimony prices continue to be strong.KenojackpotsFor a long time, we are still optimistic about the pull of photovoltaic glass on antimony demand, and the increment of superimposed antimony ore is limited.
On the whole, institutions are generally bullish on the trend of small metal prices. Zhongtai Securities said that manufacturing replenishment superimposed supply-side uncertainty increased, small metal prices generally showed an upward trend; CITIC Construction Investment (601066) reported that antimony, molybdenum and tungsten prices are rising, small metals may be going bull.
A number of small metal companies
Respond to price increases
The general rise in the price of small metals will bring about important changes in the supply and demand of the industrial chain, which in turn will affect the performance of listed companies. Recently, a number of small metal plate listed companies have responded positively and will take measures such as adjusting product prices.
Mikawa Wisdom said on the investor interactive platform a few days ago that at present, the price of rare earth oxides has stabilized and rebounded, and the company's comprehensive recycling business of rare earth resources is expected to improve.
China Tungsten Hi-Tech said on the investor interactive platform that tungsten prices have skyrocketed since the first quarter, especially in mid-late April, scheelite and wolframite concentrates have risen by nearly 1000 yuan per ton per day. The main reason for the price increase is the decline in production on the supply side.
Zhangyuan Tungsten said on its official Wechat account that it had decided to raise the prices of alloy products such as clamp welding blades by 5% to 10% from May 13, 2024. From the date of price adjustment, all products will be implemented at the new price.
In addition, Northern rare Earth (600111), the leader of the rare earth industry, announced the listing prices of several rare earth products in May, a significant increase from April. Among them, the price of praseodymium and neodymium oxide is 393200 yuan / ton, the price of neodymium oxide is 401500 yuan / ton, the price of metal praseodymium and neodymium is 488000 yuan / ton, and the price of metal neodymium is 498000 yuan / ton, up 7.52%, 7.35%, 7.25% and 7.1% respectively compared with April.
After a year of decline, prices of rare earths have rebounded since mid-late March.
Guojin Securities said that as the leader of light rare earths, the listing price of northern rare earths often has a certain guiding significance. Generally speaking, the price of praseodymium and neodymium oxide peaked and fell in early 2022, and the listing price of rare earths in the north was generally in a state of decline or flat, with only a rebound from September to October 2023; this increase is for the first time since November 2023, which is of great significance for thickening industry confidence.
Organizations gather together to investigate
Small metal stock
According to Databao statistics, the Shenwan secondary small metal industry has risen nearly 16% so far this year. Luoyang molybdenum industry, medium tungsten high-tech (000657), Zhangyuan tungsten industry (002378), gold molybdenum shares (601958) and tin shares (000960) are among the top gainers. Among them, Luoyang molybdenum industry rose more than 80%. Since the beginning of this year, northward funds have bought more than 100 million yuan from Luoyang molybdenum industry, gold molybdenum shares, northern rare earths, medium ore resources (002738) and Xiamen tungsten industry (600549).
Judging from the performance in the first quarter of this year, the net profit of eight small metal stocks, including Luoyang Molybdenum, Gold Molybdenum, Tin, Xiamen Tungsten and China Mineral Resources, exceeded 100 million yuan, of which Luoyang Molybdenum ranked first in the industry with a net profit of 2.072 billion yuan. in terms of performance growth, the net profit of Luoyang Molybdenum increased by more than 500% in the first quarter, followed by ST Dinglong, with an increase of 67.17%. In addition, the performance of your platinum industry (600459) and tin industry also increased by more than 20% compared with the same period last year.
Since the beginning of this year, a number of small metal plate stock research institutions have gathered together, and there are more than 100 research institutions in China Mineral Resources, Xiamen tungsten industry and medium tungsten high-tech research institutions. Zhangyuan Tungsten Industry, Oriental Tantalum Industry (000962), Bao Ti Stock (600456), Yunnan Germanium Industry (002428), Shenghe Resources (600392) have also been investigated by 20 or more institutions.
China Mineral Resources said that in 2023, the company's rare light metal (cesium rubidium salt) plate achieved operating income of 1.124 billion yuan and gross profit of 724 million yuan, realizing the continuous growth of revenue and profit in this sector compared with the same period last year. With the consensus reached in the global green economy transformation and the accelerated expansion of the downstream application field of cesium rubidium salt, the company's advantages in the cesium rubidium salt industry will be more obvious.
Xiamen tungsten industry said that the company's photovoltaic tungsten wire product specifications from the beginning of 2 or 3 products, to the current according to wire diameter, strength and other parameters, there have been more than 10 different specifications of products.
Medium tungsten high-tech revealed that the company's photovoltaic tungsten wire project is technically open, and the production capacity is still climbing.