Today, the battery material plate fluctuations, heaven-sent material daily limit, when the rise in technology rose 5.50%. Huatai Securities that the main reason there are two, one is lithium cobalt oxide and ternary materials (nickel cobalt manganate) prices, stocks improved profitability, and second, February 8, Samsung Samsung SDI plant lithium battery production line fire market sentiment.
Cobalt prices rose gradually to the battery material side, the material business profitability improved
Congo (DRC) is the world's largest exporter of cobalt ore, its cobalt ore production directly affects the global supply. 2016 Congo (gold) cobalt ore production fell 7.35% year on year, the rapid development of downstream lithium industry, domestic power battery production grew by more than 60%. Cobalt prices rose from $ 7.25 / lb in August 2016 to $ 16.10 / lb. Downstream battery materials lithium cobalt oxide prices since last October rose 40.6% (18.95-266,500 yuan / ton), ternary materials (nickel cobalt manganate) prices rose 7.80% (14.1-152 yuan / ton), products Price increases improve corporate profitability.
Lithium electric plant fire affect market sentiment
February 8 Tianjin Samsung SDI factory lithium battery production line fire. According to Tianjin fire news, fire substances for the production workshop lithium batteries and some semi-finished products, the specific cause of the fire is still under investigation. Samsung said the fire on the production of little impact, will not affect the new mobile phone battery supply. During the recovery of production, it may accelerate the procurement of lithium cathode materials.
Power lithium batteries to maintain high demand growth, leading enterprises benefit
2016 new energy vehicle production 517000, an increase of 51.7%; lithium battery cathode material production of 161,600 tons, an increase of 43%. With the new energy vehicles subsidy policies have been introduced, the state clearly encourages high efficiency, low energy consumption of new energy automotive industry development, leading enterprises such as when the technology, will continue to benefit from the industry's high demand growth and overall market share increase.
Concerned about the impact of cobalt on the cost of battery materials business
Materials enterprises are the main raw material for the production of lithium carbonate, cobalt chloride, etc., of which cobalt production costs accounted for about 70%. Leading enterprises have the ability to lock in the price of lithium carbonate in advance, while the use of cobalt chloride plus profit margin way. Cobalt prices rise in the process, companies benefit from cobalt inventory and base effect. Concerned about the impact of rising cobalt prices on performance and individual stock prices.
Risk Tip: demand growth is less than expected, raw material prices rose more than expected, industrial policy changes.