国金证券8月15日发布研报称，给予腾远钴业（301219.SZ，最新价：60.91元）买入评级。评级理由主 要包括：1）钴价迎来上涨通道，中长期价格中枢有待重估；2）加大铜板块布局，增厚公司盈利基本 盘；3）一体化布局已成，产能仍具备较大增长潜力。风险提示：钴产品价格波动超预期风险、下游需 求表现不及预期风险、限售股解禁风险、钴原材料价格波动超预期风险等。 （文章来源：每日经济新闻） ...

证券之星消息，8月13日能源金属板块较上一交易日下跌0.01%，盛新锂能领跌。当日上证指数报收于 3683.46，上涨0.48%。深证成指报收于11551.36，上涨1.76%。能源金属板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 301219 | 腾远钻业 | 60.58 | 5.63% | 12.03万 | | 7.12亿 | | 6633209 | 永杉锂V | 10.84 | 3.73% | 71.69万 | | 7.67亿 | | 300618 | 塞锐铝业 | 38.00 | 2.12% | 12.78万 | | 4.82亿 | | 605376 | 博迁新材 | 41.42 | 1.52% | 5.75万 | | 2.35亿 | | 603799 | 华友钻业 | 44.89 | 1.47% | 51.41万 | | 22.97亿 | | 000408 | 藏格矿业 | 51.00 | 0.97% | 10.19万 | | 5.21亿 | | ...

（编辑 袁冠琳） 证券日报网讯 腾远钴业8月11日在互动平台回答投资者提问时表示，公司钴产品销售定价主要参考上海 有色网（SMM）钴产品报价及伦敦金属导报（MB）钴金属报价，并结合钴产品供需关系、竞争对手报 价、有色金属网公布价格等因素，综合确定销售价格。 ...

此前，在华尔街长期以来有着"黄金空头"称号的花旗转向在短期内看涨黄金。花旗表示，2025下半年， 美国经济的增长趋势趋于疲软以及与关税相关的通胀担忧预计将持续升温，再加上美元走弱，金价将适 度走高，进而可能再度创下历史新高。 稀土方面，海关总署数据显示，中国7月稀土出口5994.3吨，环比下跌23%，结束6月创纪录高位的势 头。太平洋证券指出，中国从稀土资源开发到稀土永磁产业链，规模和技术均全球领先，具有国际定价 权。高性能稀土永磁需求不断增长，未来人形机器人和eVtol的发展将极大地增加高性能稀土永磁的需 求。 8月8日早盘，COMEX黄金继续刷新上市新高（3534.1美元/盎司）。消息面上，8月7日，中国央行公布 的数据显示，截至7月末，我国黄金储备规模7396万盎司，较6月末增加6万盎司，为连续第9个月增持黄 金。 中金公司指出，降息交易有望与去美元化实现共振，驱动金价启动新一轮上行趋势。业内人士表示，特 朗普关税生效以及美国就业数据强化美联储降息预期，提振了避险需求。 二、【业绩预喜】截至7月31日，中证有色金属指数覆盖的60家上市公司中，已有27家披露2025年中报 业绩预告，其中22家预告盈利，占 ...

Investment Rating - The report maintains an investment rating of "Outperform the Market - A" for the cobalt industry [5]. Core Viewpoints - The cobalt market is experiencing a supply-driven price increase, with significant price recovery following the export ban from the Democratic Republic of Congo (DRC) [1][4]. - The DRC's export ban, effective from February 22, 2025, aims to reduce historical inventory and stabilize cobalt prices, which had previously dropped due to oversupply [2][45]. - The demand for cobalt is expected to grow, driven by the electric vehicle (EV) sector and advancements in consumer electronics, with cobalt consumption projected to reach approximately 222,000 tons globally in 2024 [3][19]. Summary by Sections 1. Cobalt: A Strategic Battery Metal - Cobalt is recognized for its high melting point, magnetic properties, and unique catalytic performance, making it essential in battery applications [1][15]. - The price of cobalt has undergone three cycles of increase and decrease since 2017, with the current cycle being primarily supply-driven [13][14]. 2. Cobalt Raw Material Supply - Global cobalt reserves are concentrated in the DRC, which is the largest producer, contributing approximately 75.9% of the global cobalt output in 2024 [21][22]. - The DRC's export ban is expected to impact around 128,000 tons of global cobalt supply over seven months, tightening the market and potentially increasing prices [45][47]. 3. Demand for Cobalt - In 2024, the global cobalt consumption is projected to be about 222,000 tons, with electric vehicles accounting for 43% and consumer electronics for 30% of the demand [3][19]. - The demand for cobalt in high-temperature alloys is also expected to grow, particularly in aerospace and military applications [3][19]. 4. Price Outlook - Following the DRC's export ban, imports of cobalt intermediate products into China have significantly decreased, indicating a tightening supply situation [4][9]. - The report anticipates further price increases for cobalt as imports remain low and demand recovers in the latter half of 2025 [4][9]. 5. Key Companies to Watch - Major players in the cobalt industry include Luoyang Molybdenum, which is the largest cobalt supplier globally, and other companies like Huayou Cobalt and Greeenmei, which are also significant contributors to cobalt production [6][20][41].

证券日报网讯腾远钴业8月5日在互动平台回答投资者提问时表示，截至2025年7月31日，公司股东户数 为26，037户。 （文章来源：证券日报） ...

证券之星消息，8月5日能源金属板块较上一交易日上涨0.15%，藏格矿业领涨。当日上证指数报收于 3617.6，上涨0.96%。深证成指报收于11106.96，上涨0.59%。能源金属板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 000408 | 藏格矿业 | 48.80 | 2.05% | 11.03万 | | 5.35 乙 | | 605376 | 博迁新材 | 41.64 | 0.82% | 4.56万 | | 1.88亿 | | 002756 | 永兴材料 | 35.51 | 0.77% | 6.47万 | | 2.29亿 | | 000762 | 西藏矿业 | 21.79 | 0.46% | 11.19万 | | 2.43亿 | | 002240 | 盛新理能 | 15.59 | 0.19% | 18.97万 | | 2.96 Z | | 002460 | 赣锋锂业 | 35.90 | -0.03% | 18.73万 | | 6.73亿 | | 0 ...

证券时报·数据宝统计，截至发稿，腾远钴业最新股价为56.00元，上涨0.09%，本期筹码集中以来股价 累计上涨8.21%。具体到各交易日，7次上涨，5次下跌。 公司发布的一季报数据显示，一季度公司共实现营业收入14.61亿元，同比下降3.59%，实现净利润1.23 亿元，同比下降14.27%，基本每股收益为0.4200元，加权平均净资产收益率1.39%。（数据宝） （文章来源：证券时报网） 腾远钴业8月5日披露，截至7月31日公司股东户数为26037户，较上期（7月20日）减少4312户，环比降 幅为14.21%。 ...

Core Insights - Cobalt concentrate is a critical raw material in the cobalt industry, with significant implications in sectors like new energy and aerospace, and is undergoing a transition towards technology-driven and green low-carbon development [1][4][22] - China heavily relies on imports for cobalt resources, with over 90% of its supply coming from abroad, leading to a pronounced supply-demand imbalance exacerbated by export bans from the Democratic Republic of the Congo (DRC) [1][4][12] - Major Chinese companies like Luoyang Molybdenum and Huayou Cobalt are adopting "going out" strategies to secure overseas resources, aiming to build a dual-circulation supply chain [1][16][20] Cobalt Concentrate Industry Overview - Cobalt concentrate is produced through the beneficiation of primary cobalt ores or associated minerals, typically increasing cobalt content to 15%-25%, and can be categorized into three types based on chemical composition: sulfide, oxide, and mixed [2][4] - The cobalt industry is recognized as a strategic mineral, essential for national industrial security and economic resilience, particularly in the context of the growing demand for electric vehicle batteries and high-end manufacturing [4][12] Development Background of China's Cobalt Concentrate Industry - Cobalt's strategic importance is underscored by its inclusion in the national strategic mineral directory, with policies promoting its use in electric vehicle batteries and energy storage systems [4][5] - The Chinese government is implementing policies to enhance resource security, including resource tax reforms and support for overseas mining projects, to address domestic cobalt resource scarcity [4][5] Industry Chain of China's Cobalt Concentrate - The industry chain is characterized by heavy reliance on imports for upstream resources, advanced smelting technology in the midstream, and rapid expansion of downstream applications, particularly in electric vehicle batteries [6][12] - The recycling of cobalt is becoming increasingly important, with recycled cobalt accounting for 18% of the supply, contributing to a circular economy [6][12] Current Status of China's Cobalt Concentrate Industry - China's cobalt production is constrained by limited domestic resources, with annual output hovering between 0.2 to 0.3 million tons, resulting in a self-sufficiency rate of less than 10% [12][14] - The demand for cobalt is surging, particularly from the electric vehicle sector, which is expected to drive the market size to exceed 100 billion yuan [12][14] Competitive Landscape of China's Cobalt Concentrate Industry - The competitive landscape features leading companies like Luoyang Molybdenum and Huayou Cobalt dominating resource control and full industry chain integration, while smaller firms focus on niche markets [20][21] - Foreign companies are deepening their local presence through technology partnerships and investments, particularly in high-end applications [20][21] Future Trends in China's Cobalt Concentrate Industry - The industry is evolving towards diversified resource security, high-end technological breakthroughs, and structured market upgrades, with a focus on overseas resource control and recycling [22][23] - Technological advancements in hydrometallurgy and the development of high-end cobalt materials are expected to reshape the industry's value distribution [23][24] - The demand structure is shifting, with electric vehicles remaining the primary growth driver, while energy storage and high-end industrial applications are emerging as new growth areas [24][25]

Investment Rating - The report maintains a "Buy" rating for several companies in the non-ferrous metals sector, including Zijin Mining, Luoyang Molybdenum, and China Nonferrous Mining [4][6][10]. Core Views - The report highlights a significant increase in the probability of interest rate cuts, which has led to rising prices for both industrial and precious metals. The macroeconomic environment is expected to support metal prices in the second half of the year [2][4]. - Industrial metals are anticipated to benefit from ongoing macroeconomic policy support in China, with a focus on the "14th Five-Year Plan" and continued investment in infrastructure [2][4]. - Precious metals, particularly gold, are expected to see a long-term upward trend due to central bank purchases and weakening US dollar credit [4][6]. Summary by Sections Industrial Metals - Copper prices have been affected by the US imposing a 50% tariff on semi-finished copper, leading to a significant drop in COMEX copper prices. However, domestic demand is showing signs of recovery with an increase in the operating rate of copper rod enterprises to 71.73% [2][4]. - Aluminum production capacity remains stable, but demand is weak due to seasonal factors, with social inventory increasing to 544,000 tons [2][4]. - Key companies recommended include Zijin Mining, Luoyang Molybdenum, and China Nonferrous Mining [2][4]. Energy Metals - Cobalt prices are expected to rise due to the impact of the Democratic Republic of Congo's mining ban, while lithium prices have seen a rapid decline amid cautious market sentiment [3][4]. - Nickel prices are projected to remain strong due to low inventory levels and increased purchasing activity from downstream sectors [3][4]. - Recommended companies include Huayou Cobalt and Zangge Mining [3][4]. Precious Metals - Gold prices are expected to rise due to strong central bank purchases and a favorable macroeconomic environment, with the report highlighting a long-term upward trend for gold prices [4][6]. - Silver prices are also expected to increase, driven by industrial demand and recovery in the market [4][6]. - Key companies recommended include Shandong Gold, Zhongjin Gold, and Zijin Mining [4][6].