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The new energy sector is generally red, monthly production and sales continue to increase, the price of cobalt and lithium is expected to rise.
Sep 14,2020 11:32CST
translation
Source:SMM
[new energy plate is generally red] with the release of better new energy vehicle production and sales data in August, the new energy vehicle A-share sector rebounded again after last week's adjustment, continuing the rally last Friday, closing at noon, up 2.32%. Gaomeng New Materials and Oriental Electric Heat rose nearly 20%, while Dewei New Materials, Yi'an Technology, Sen Yuan shares, Zhenghai Magnetic Materials, easy things and other stocks rose more than 10%.
The content below was translated by Tencent automatically for reference.

SMM9 March 14: with the release of better production and sales data of new energy vehicles in August, the A-share sector of new energy vehicles rebounded again after last week's adjustment. Today, it continued its rally last Friday. By midday, it was up 2.32%. Gaomeng Xinliao and Dongfang Electric Heat were up nearly 20%. Dewei Xinliao, Yi'an Technology, Sen Yuan shares, Zhenghai Magnetic Materials, easy things and other stocks rose more than 10%.

Recent official figures show that in August this year, China's automobile production and sales were 2.119 million and 2.186 million respectively, up 6.3% and 11.6% respectively from the same period last year. Production and sales have achieved positive growth for five consecutive months, of which sales have increased by more than 10% for four months in a row. The passenger car market retailed 1.703 million vehicles in August, up 8.9% from a year earlier. What is noteworthy is that the production and sales of new energy vehicles achieved strong growth in August. In August, the production and sales of new energy vehicles completed 106000 and 109000 respectively, up 17.7% and 25.8% respectively over the same period last year. Wholesale sales of new energy passenger vehicles exceeded 100000 in August, up 43.7% from the same period last year and 23.9% from the previous month.

Chen Shihua, deputy secretary general of the China Association of Automobile Manufacturers, analyzed that car sales continued to maintain double-digit growth in August, and the cumulative decline in car production and sales has narrowed to less than 10%. The increase in sales volume mainly benefited from the stable recovery of the national economy, the consumption promotion month and other activities carried out by government departments, as well as the policies issued by various localities to promote consumption, which boosted people's consumer confidence.

Cui Dongshu, secretary general of the Joint bus Association, pointed out that the overall growth of the national passenger car market in August was mainly due to the better-than-expected recovery of the macroeconomic and export markets, which stabilized consumer confidence. In addition, the low production and sales base of the auto market and the obvious pick-up in retail sales of new energy vehicles caused by the implementation of the "sixth National" in some areas last year are also the reasons for the strengthening of the auto market.

According to SMM research, the demand for ternary batteries also continued to increase in Synchronize in August, among which high nickel ternary and 5-series ternary increased significantly, mainly due to overseas demand for high nickel plus 5-series ternary + CTP technology to improve energy density and safety to meet the needs of the domestic new energy vehicle market.

Price of upstream raw materials:

Cobalt: the implementation of cobalt collection and storage news has a direct impact on the spot quotation of electrolytic cobalt, but the transaction is sporadic, mainly due to the current high domestic inventory of electrolytic cobalt, low demand, and limited room for price increases. News stimulation indirectly promotes the transaction of battery raw materials, and cobalt sulfate, cobalt chloride and cobalt tetroxide are talking about an increase in the probability of order transactions, mainly because the purchase and storage news supports the cobalt price, and some enterprises are worried that the price will rise slightly.

Lithium: last week, metal lithium slightly reduced by 5000 yuan / ton, downstream medicine, disposable battery plate demand for metal lithium has weakened, superimposed metal lithium domestic operating rate has not been reduced, the market supply is greater than the downstream demand. Lithium carbonate, downstream procurement volume, superimposed domestic large and medium-sized enterprise shipments are good, is expected to have a small increase this week.

Cathode materials and precursors: in terms of ternary precursors, the prices of cobalt and nickel salts were still fluctuating last week, downstream did not reach the procurement peak, procurement is more cautious, many enterprises are still waiting for raw material prices to be stable. Affected by the previous rise in nickel salt prices, the price of ternary materials began to increase slowly, but the downstream battery enterprises suppressed, the price increase was low. The price of lithium salt has an upward trend, but the increase is not high, which has little impact on the cost of lithium iron and lithium manganate, so it is more difficult to increase the price of lithium iron and lithium manganate.

"Click to see more data and information on the raw material side of new energy.

Looking forward to September, overseas travel during the National Day and Mid-Autumn Festival under the epidemic will be blocked, and domestic self-driving travel may increase significantly, which is expected to have an obvious effect on the high-end car market. In addition, the Beijing auto show is about to launch, the launch of new products is coming early, and the full development of offline marketing activities in various auto shows will also drive the sales of the "Golden Nine Silver Ten" car market.

The China Automobile Association expects sales of new energy vehicles to maintain a relatively stable positive growth in the second half of this year, with annual sales expected to be about 1 million vehicles (excluding Tesla).

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