Cobalt shift in second half of year

With the launch of domestic models with high energy density and high mileage, such as saic, byd and other models, the pull on cobalt will be significantly enhanced. Beijing and guangzhou announced the local subsidy policy for new energy vehicles, which is basically the same as the national subsidy policy and focuses on subsidizing mid-to-high-end passenger pure electric vehicles. This has eliminated the negative expectation of the market for the subsidy policy for new energy vehicles.

At the same time, affected by environmental supervision in jiangsu, jiangxi and other places, many cobalt salt plants have stopped production and reduced production. In June, domestic cobalt production decreased by about 1,500 tons, down about 20% from the previous month, and only cobalt sulfate production in June decreased by 38. 1%. At present, the resumption of production is still uncertain, and domestic cobalt salt production is expected to be at a low level for some time in the future.

In terms of lithium, although the development of lithium resources is flourishing all over the world, the processing of Australian raw ore such as DSO is difficult to be carried out smoothly under the high pressure of domestic environmental protection and other supply-side disturbances. The supply of high-quality ore and high-quality lithium carbonate in China will remain in a tight situation for a long time.

After six months of active destocking, the whole industry chain is now in a state of extremely low inventory. With the continuous development of new energy vehicles with high driving range in the second half of the year and the arrival of the traditional 3C peak season, the production of positive pole materials has been intensified. In the third quarter, the inventory replenishment cycle of the entire industry chain is likely to come.

We have specially arranged the domestic company related to cobalt lithium. If you don't know what to buy, just close your eyes and buy these.

Shengtun mining: the cobalt industry integration platform is being established

The company takes advantage of trade to enter the cobalt industry, and has formed a resource security system focusing on raw material reserve, long-term lease of raw material supply for mines, and long-term raw material trading agreement with qualified suppliers. In 2017, the company realized 700 million yuan gross profit through trade and OEM.

After the completion of 3,500 tons of cobalt smelting capacity of cobalt source new material and the acquisition of KCL, the company's cobalt plate is expected to obtain the basic industrial chain from resource trade, copper and cobalt smelting and cobalt deep processing. The cobalt resource increment of 18 years is limited, and the biggest increment KCC of the whole year is in crisis. The cobalt supply may be lower than expected, and the appraisal is expected to keep going up.

According to current cobalt price estimation, the company 18 cobalt plate gross profit is expected to reach more than 1.4 billion yuan. Dayu klixin newly built 10,000 tons of cobalt salt production capacity, 100,000 tons of automobile lithium battery recycling production line and 30,000 tons of ternary precursor production line; The munari nickel mine, in which the company has a stake in CNM, is expected to resume production within six months of the funding, with an estimated capacity of 4,650 tonnes of nickel concentrate and 360 tonnes of cobalt.

After the completion of nickel mine and recovery capacity, the company's cobalt and new energy upstream industry chain will be more complete.

Hua you cobalt course of study: domestic cobalt course of study bibcock, benefit cobalt price to rise adequately

In 2018, as the company's PE527 project and Mikas technical renovation project gradually reach production, the company's own mine output will reach about 4,000 tons, which will make the company's local procurement + raw materials from its own mines account for about 50%. 17 through equity participation in NZC14. 76% equity, controlling stake of luckyresource51% and layout of lithium battery recycling provide resource guarantee for the company's long-term development.

With the expansion of the company's downstream customers, the company's cobalt product output in 2018 is expected to increase from February 2017. The increase from 370,000 tons to 30,000 tons will give an increment of about 26%. Ternary material market recognition is expected to continue to improve, capacity utilization has steadily increased.

It is estimated that 18 years cobalt price is easy to rise difficult to fall, the company cobalt products continue to volume, performance is expected to exceed expectations.

Cold sharp cobalt industry: cobalt industry rookie, the future is expected to achieve the volume price rise

The company has been deeply engaged in DRC for many years, and is familiar with the procurement channels and modes of local cobalt raw materials. It has stable and expanded mineral resources channels. The company's subsidiary in DRC, Congo maite, currently has a cobalt concentrate processing capacity of 4,000 tons (metal amount).

At the processing end, the company currently has a production capacity of 1,500 tons of cobalt powder, 800 tons of cobalt carbonate and 2,000 tons of cobalt hydroxide. The subsequent construction of 3,000 tons of cobalt hydroxide is also expected to reach the production, resulting in a total output of 5,000 tons of cobalt hydroxide.

In addition, the company will use the investment funds to build an additional 3,000 tons of cobalt powder and 5,000 tons of cobalt hydroxide capacity. After the project, the company will fully benefit from the cobalt price continues to go up, performance is expected to continue to maintain high growth.

Luoyang molybdenum industry: an international mining giant going global

Company early focus on tungsten and molybdenum business, has been the leading domestic producer of tungsten and molybdenum.

After the a-share listing in 2012, the company has been actively expanding its business overseas. It has acquired high-quality assets such as Australia's NPM copper and gold mine, Brazil's CIL phosphate mine, NML niobium mine and Congo (gold) TFM copper and cobalt mine successively. The company has grown into A global top mining enterprise with the business of tungsten, molybdenum, copper, cobalt, niobium and phosphorus.

In 2016, the company acquired an 80% stake in TFM, the second largest copper and cobalt mine in the democratic republic of Congo (DRC), which has 1. 5% ore reserves. 8.3 billion tons, copper and cobalt grade of 2. 6% and 0. 31%, is the world's largest reserves, the highest grade of copper, cobalt minerals one.

Benefiting from the booming new energy industry, cobalt prices rose rapidly after the company's acquisition. In 2017, copper and cobalt business accounted for 58% of the company's total operating revenue, contributing to the company's net profit attributable to the parent company's shareholders. 2.3 billion yuan, becoming the largest industry category contributing income. In the future, with the continuous improvement of the new energy automobile industry, copper-cobalt business will continue to contribute sufficient profits to the company.

Tianqi lithium: aramco in the new energy era

The company is the leading lithium producer in China. In terms of resources, the company has the current lithium concentrate capacity of 740,000 tons/year (the planned output expansion will reach 1.34 million tons in 19 years). Processing has a flood and zhangjiagang two production bases, lithium capacity 3. 40,000 tons (Australia base under construction) capacity 4. 80,000 tons, suining proposed capacity of 20,000 tons).

The company intends to raise about 40 percent of its own capital. $6.6 billion for SQM23. 77% equity, plus the previous 2. 1% equity, after the acquisition is completed, the company is expected to receive a total of 25 SQM. 86%.

SQM has the mining quota of SalardeAtacama salt lake, and its main products are potassium chloride and other potash, iodine, lithium and other salt lake development related products. SQM also owns Mt in Australia. 50 percent of Holland lithium and 50 percent of cauchar-olaroz salt lake. According to the company's production expansion plan, the future is expected to form lithium resources capacity 31. 50,000 tons, 270,000 tons of equity capacity.

Automobile cannot do without oil, and new energy automobile cannot do without lithium. In the background of the increasing popularity of new energy automobile, the demand of lithium industry is expected to increase from 23 in 2017. 540,000 tons of LCE will gradually rise to more than 3 million tons of LCE. After the comprehensive promotion of new energy vehicles, the market share of the two companies is expected to remain around 12%, which is similar to the 10% market share of aramco, the world's largest oil company.

The company is about to enter the production capacity launching period, and the boom degree of lithium industry is expected to continue. If the acquisition is successfully completed, the company will have the world's leading resources of lithium pyroxene and salt lake.

Ganfeng lithium: resources and processing capacity doubled

The company is the leading domestic lithium processing. By the end of 2017, the company's lithium salt processing production has been close to 40,000 tons/year. According to the exchange of shenzhen stock exchange interactive platform on February 25, the company's new 20,000 ton lithium hydroxide production line has been completed and put into production. 1, which is still under construction. The 750,000 ton lithium carbonate production line is scheduled to start production in the fourth quarter of 2018. It is expected that the company's lithium salt processing capacity is expected to reach 7. Around 70,000 tons, keeping pace with the company's lithium resources volume.

The company holds 43 percent. The 1% MtMarion pyroxenite mine has been producing pyroxenite concentrate since February 2017. According to the 2017 and 2018 semi-annual reports of the project operator MineralResource; MtMarion shipped a total of 31 lithium concentrates in 2017. 80,000 tons of lithium concentrate, equivalent to about lithium carbonate 3. 20000 tons. According to the announcement of MineralResourcesLimited, MtMarion's mining and processing capacity has reached the designed capacity of 400,000 tons/year in June, 2017. The ongoing technological reform is expected to upgrade MtMarion's lithium concentrate products from 4% grade and 6% grade lithium concentrate 50% to all 6% grade products.

In addition, ganfeng lithium has the exclusive right to sell 160,000 tons of lithium concentrate in the first stage of Pilbara and the second stage 7. Exclusive right of 50,000 tons lithium concentrate; And the 80% exclusive right of American lithium (the first stage is 10,000 tons of lithium carbonate, the second stage is 10,000 tons of lithium carbonate). After the completion of all projects, the capacity of lithium resources controlled by the company is expected to reach 100,000 tons of lithium carbonate equivalent. Production is expected to start from the second quarter of a large increase.

The page contains the contents of the machine translation.