记者丨 李益文 编辑丨叶映橙 视频 丨 陈泽锴 随着美伊冲突的持续，"百元油价"正在走向现实。3月6日晚间，国际油价迎来"史诗级"狂飙， 美油、布油双双站上90美元大关，距离"百元大关"仅一步之遥，至此，美油周涨幅为36%、布 油周涨幅为28%，分别创下自1983年和1991年有记录以来的最大周涨幅。 这场能源危机的直接导火索，正是霍尔木兹海峡通行状况的急剧恶化。据央视新闻报道，3月 7日，伊朗伊斯兰革命卫队宣布击落一艘强行闯入霍尔木兹海峡的商用油轮。 作为全球最重要的能源通道之一，据EIA估计，2024年霍尔木兹海峡石油日均贸易量约2000 万桶，占全球海运石油贸易超四分之一，摩根大通最新报告显示，自美伊冲突升级以来，该 航道日均通行船只从通常的138艘骤降至8艘，流量暴跌94%。 供应端的收缩预期正在快速发酵。花旗集团最新测算数据显示，由于霍尔木兹海峡运输受 阻，全球原油市场每天损失约700万到1100万桶供应。高盛大宗商品研究团队3月6日发布的报 告警告，油价上行风险正在"迅速扩大"，若本周内无冲突解决方案出现的迹象，油价下周很 可能突破100美元/桶。 作为大宗商品之母，原油价格的史诗级暴涨，正沿着产 ...

证券研究报告|行业研究周报 [Table_Date] 2026 年 3 月 6 日 钨价持续创历史新高，后续仍看好关键金属全 面行情 [Table_Title2] 有色-能源金属行业周报 [Table_Summary] 报告摘要： ►印尼 RKAB 配额收紧预期持续，对镍矿价格或有支撑 截止到 3 月 6 日，LME 镍现货结算价报收 17110 美元/ 吨，较 2 月 27 日下跌 2.12%，LME 镍总库存为 287550 吨， 较 2 月 27 日减少 0.15%；沪镍报收 13.72 万元/吨，较 2 月 13 日价格下跌 3.01%，沪镍库存为 61769 吨，较 2 月 13 日增加 0.02%；截止到 3 月 6 日，硫酸镍报收 33 万元/吨，较 2 月 13 日价格上涨 0.30%。根据 SMM，政策端，全球最大的镍生产 国印度尼西亚正式为 2026 年的镍矿石供应定下基调。印度尼 西亚镍矿商协会表示，已将 2026 年镍矿石的生产配额 （RKAB）设定在 2.6 亿至 2.7 亿吨之间，较去年的 4200 万湿 吨大幅缩减。此外，能源与矿产资源部（ESDM）预计将在 7 月份开始对 20 ...

2026 年 3 月 7 日 行业研究 美伊冲突持续背景下，如何看待石化化工板块投资机会？ ——石油化工行业周报第 441 期（20260302—20260308） 要点 美伊冲突持续背景下，如何看待石化化工板块投资机会？美伊冲突持续一方 面会直接推高全球油价，另一方面伊朗若长期封锁霍尔木兹海峡，将推高原油 及化工品运输成本，伊朗局势如何演绎将很大程度影响全球化工品走势，全球 能源及化工品供需格局或将迎来重塑。在此背景下，我们认为建议关注三大主 线：1）继续看好油气板块，看好上游、油服、油运等板块的长期价值；2） 关注地缘冲突背景下的化工品供需格局重塑；3）关注油头的替代路线——煤 化工板块。 原油价格大幅上涨，油气、油服、油运长期价值凸显。原油供需面临一定压 力，但本轮地缘政治冲突有望使原油供需担忧得到缓解，地缘风险溢价的整体 上升有望在一段时间内持续推高油价。作为上游油气领域央企巨头，"三桶油" 和油服在油价上行期的业绩弹性凸显。2026 年，"三桶油"将继续维持高资 本开支，不断加强天然气市场开拓，加快中下游炼化业务转型，有望实现穿越 油价周期的长期成长。油服方面，国内高额上游资本开支投入将有力保障上游 ...

3月6日，有色金属ETF（512400）开盘跌1.46%，报2.292元。有色金属ETF（512400）重仓股方面，紫 金矿业开盘跌1.75%，洛阳钼业跌1.68%，北方稀土跌1.41%，华友钴业跌1.48%，中国铝业跌2.70%，赣 锋锂业跌0.66%，山东黄金跌2.03%，云铝股份跌3.95%，中金黄金跌2.66%，藏格矿业跌0.90%。 有色金属ETF（512400）业绩比较基准为中证申万有色金属指数收益率，管理人为南方基金管理股份有 限公司，基金经理为崔蕾，成立（2017-08-03）以来回报为137.74%，近一个月回报为8.46%。 来源：新浪基金∞工作室 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 ...

有色金属ETF（512400）业绩比较基准为中证申万有色金属指数收益率，管理人为南方基金管理股份有 限公司，基金经理为崔蕾，成立（2017-08-03）以来回报为139.52%，近一个月回报为3.89%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 来源：新浪基金∞工作室 3月5日，有色金属ETF（512400）开盘涨1.62%，报2.383元。有色金属ETF（512400）重仓股方面，紫 金矿业开盘涨1.32%，洛阳钼业涨1.65%，北方稀土涨1.23%，华友钴业涨2.09%，中国铝业涨2.77%，赣 锋锂业涨2.23%，山东黄金涨0.19%，云铝股份涨2.22%，中金黄金涨0.99%，藏格矿业涨1.04%。 ...

有色金属ETF（512400）业绩比较基准为中证申万有色金属指数收益率，管理人为南方基金管理股份有 限公司，基金经理为崔蕾，成立（2017-08-03）以来回报为140.45%，近一个月回报为4.51%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 来源：新浪基金∞工作室 3月4日，有色金属ETF（512400）开盘跌4.19%，报2.263元。有色金属ETF（512400）重仓股方面，紫 金矿业开盘跌2.99%，洛阳钼业跌4.00%，北方稀土跌3.29%，华友钴业跌1.90%，中国铝业涨1.43%，赣 锋锂业跌1.62%，山东黄金跌6.07%，云铝股份涨2.59%，中金黄金跌5.59%，藏格矿业涨0.00%。 ...

Group 1 - The core viewpoint of the article highlights the performance of the Nonferrous Metals ETF (512400), which opened down by 1.80% at 2.453 yuan [1] - Major holdings in the Nonferrous Metals ETF include Zijin Mining, which opened down by 1.03%, and other companies like Luoyang Molybdenum down by 2.02%, Northern Rare Earth down by 0.58%, and Huayou Cobalt down by 1.05% [1] - The ETF's performance benchmark is the CSI Shenwan Nonferrous Metals Index return, managed by Southern Fund Management Co., Ltd., with a return of 154.70% since its inception on August 3, 2017, and a return of 14.07% over the past month [1]

格隆汇3月3日｜A股市场锂矿股集体下挫，其中，华友钻业、中矿资源跌超6%，西藏珠峰、西部矿广业跌超5%，藏格矿业、尔康制药、赣锋锂业、盐湖股 份、天齐锂业跌超4%。消息面上，碳酸锂主力合约今日大跌，盘中一度触及跌停，跌幅12.99%，报150860元/吨。 ...

Investment Rating - The industry rating is "Recommended" [3] Core Views - The report highlights that the supply disruptions in Indonesia are raising expectations for tighter market conditions, which may support nickel prices. As of February 27, the LME nickel spot price was $17,685 per ton, up 3.09% from February 20, with total LME nickel inventory at 287,976 tons, an increase of 0.09% [1] - The cobalt raw material supply remains tight, with expectations for continued price increases. As of February 27, electrolytic cobalt was priced at 440,000 yuan per ton, up 2.92% from February 13 [2] - The report indicates that the overall supply of antimony is slightly contracting, which may support antimony prices. The average price of domestic antimony ingots was 167,500 yuan per ton as of February 26, up 1.82% from February 12 [6] - The report notes that the supply of lithium carbonate is expected to remain tight, with prices rising to 176,000 yuan per ton as of February 27, an increase of 17.82% from February 13 [8] - The report emphasizes that the supply of praseodymium and neodymium is likely to remain short, which may support prices in the rare earth magnetic materials sector. As of February 27, the average price of praseodymium oxide was 955 yuan per kilogram, up 6.70% from February 14 [9] - The report discusses the ongoing tensions in northern Myanmar, which are raising concerns about the supply chain for tin, with the LME tin spot price reaching $57,425 per ton, up 26.21% from February 20 [11] - The report indicates that the supply shortage of tungsten is worsening, with white tungsten concentrate priced at 796,000 yuan per ton as of February 28, up 14.86% from February 13 [13] - The report highlights that expectations for tight uranium supply are continuing to develop, with the global uranium market price at $69.71 per pound as of January, remaining high despite some fluctuations [14] Summary by Sections Nickel and Cobalt Industry - Nickel prices are expected to find support due to supply constraints from Indonesia, with a significant reduction in approved mining quotas [1][16] - Cobalt supply is projected to remain structurally tight, with potential for further price increases benefiting cobalt resource companies [2][17] Antimony Industry - Antimony supply is tightening, with domestic prices expected to rise as export controls and supply chain issues persist [6][19] Lithium Industry - Lithium carbonate prices are expected to remain strong due to supply constraints and increased demand from battery manufacturers [8][20] Rare Earth Industry - The supply of praseodymium and neodymium is expected to remain tight, with price support anticipated due to regulatory changes and supply chain disruptions [9][21] Tin Industry - Ongoing geopolitical tensions in Myanmar and supply chain uncertainties are expected to support tin prices [11][22] Tungsten Industry - The tungsten market is facing supply shortages, with prices expected to rise further due to production constraints and regulatory measures [13][23] Uranium Industry - The uranium market is experiencing tight supply conditions, with prices remaining elevated due to geopolitical factors and production delays [14][24]

证券代码：000408 证券简称：藏格矿业 公告编号：2026-009 藏格矿业股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 | 藏格创业 | 166,085,383 | 10.58 | 27,897,482 | 16.80 | 1.78 | 0 | 0.00 | | 0 | 0.00 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 投资 | | | | | | | | | | | | 四川省永 | | | | | | | | | | | | 鸿实业有 | 49,315,886 | 3.14 | 20,345,750 | 41.26 | 1.30 | 0 | 0.00 | 12,880,000 | | 44.46 | | 限公司 | | | | | | | | | | | | 肖永明 | 100,685,746 | 6.41 | 70,000,000 | 69.52 | 4.46 | 0 | 0.00 | | 0 | 0.00 | | 肖瑶 | 22 ...