SMM2 13: February 13, Luoyang molybdenum industry rose rapidly, up more than 2% in 5 minutes, as of 10:40, reported 5.11 yuan, transaction 2.34 billion yuan, turnover rate 2.72%.
Affected by the epidemic situation of Xinguan virus, the rework rhythm of workers in cobalt smelting enterprises has slowed down, the transportation of production materials has been restricted, the reception of raw materials and accessories purchased by cobalt salt plants has been affected, cobalt salt plants have also begun to cherish the sale situation, and cobalt salt has begun to raise prices step by step.
Citic Construction said in its research paper, at the end of 2019, Glencore Mutanda mine shut down, its cobalt production in 2020 compared with 2019 fell by about 12000 tons, at the same time, Luoyang molybdenum industry cobalt production is also declining, it is expected that the increment of other cobalt enterprises can not make up for the decline in production of the two leading enterprises, cobalt industry supply side will change, the industry inventory is still low, prices are expected to continue to rise.
Citic Jiantou said the impact of the epidemic on logistics and resumption of work was the direct cause of the rise in cobalt prices. Cobalt as a periodic product, the price is mainly affected by the supply cycle, inventory cycle and demand cycle. With 60 per cent of global cobalt demand in the battery industry, downstream companies may replenish inventories and further drive up cobalt prices in the future as demand for new energy vehicles and 5G mobile phones continues to rise.
Guojin Securities said that considering the further optimization of the supply and demand pattern of the industry, cobalt prices have continued to rise to maintain the cobalt industry "overweight" rating. It is suggested that we should actively configure the cobalt powder oligarch cold sharp cobalt industry in the field of accelerator new energy vehicles, the global refining cobalt leading Huayu cobalt industry in the LG industry chain, and the undervalued cobalt industry leading Luoyang molybdenum industry with high quality and large mines.
Production and Operation of main Nonferrous Cobalt Enterprises
Huayu Cobalt expects that the net profit attributable to shareholders of listed companies in 2019 will be reduced by 85%-95% compared with the same period last year, while Hanrui Cobalt is expected to belong to shareholders of listed companies from 10 million yuan to 15 million yuan, down about 97.88% to 98.59% compared with the same period last year.
The cold sharp cobalt industry currently has a capacity of 5000 tons of cobalt hydroxide, 4500 tons of cobalt powder and 10, 000 tons of electrodeposited copper. In June 2020, the company's 20, 000 tons of copper electrodeposition and 5000 tons of cobalt electrodeposition project will be put into production, further thickening the company's performance. In addition, the company's recent application for a non-public offering of shares has been accepted by the China Securities Regulatory Commission, and if approved, the company will add another 10000 tons / year of cobalt metal and 26000 tons / year of ternary precursor projects.
Huayu cobalt industry has the largest cobalt salt production capacity and greater performance elasticity. In 2019, the company purchased 15.68% of Huayu Quzhou by issuing shares and held 100% of Huayu Quzhou after the transaction was completed. The main products of Huayu Quzhou are cobalt tetroxide, cobalt sulfate and so on, which are the main raw materials of the precursors.
Luoyang Molybdenum expects to achieve a net profit range of 1.7 billion yuan to 2 billion yuan for shareholders of listed companies in 2019, a decrease of 2.636 billion yuan to 2.936 billion yuan and a decrease of 56.86% to 63.33% compared with the same period last year.
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