商品研究晨报：绿色金融与新能源-20260224

Report Overview - The report is the "Guotai Junan Futures Commodity Research Morning Report - Green Finance and New Energy" dated February 24, 2026, covering nickel, stainless steel, lithium carbonate, industrial silicon, and polysilicon [1][2]. Industry Investment Ratings - Not provided in the report. Core Views - Nickel: Speculative sentiment in Shanghai nickel remains, and continuous attention should be paid to the contradictions in nickel ore [2]. - Stainless steel: The cost - support center has moved up, but off - season inventory accumulation restricts its elasticity [2]. - Lithium carbonate: Supply and demand are tight, and the futures price has bottom support [2]. - Industrial silicon: Attention should be paid to the resumption rhythm of upstream factories [2]. - Polysilicon: The price of silicon wafers has declined [2]. Summary by Related Catalogs Nickel and Stainless Steel - Fundamental Data: The closing price of Shanghai nickel futures was 135,190, down 4,420 from the previous day; the closing price of stainless - steel futures was 13,860, down 110 from the previous day. Other data such as trading volume, spot prices, and spreads also changed to varying degrees [4]. - Macro and Industry News: Indonesia has suspended issuing new smelting licenses, plans to revise the benchmark price formula for nickel ores, and some mines are facing potential fines. There are also issues such as monopoly in port logistics in the IMIP park, and some overseas nickel mines plan to restart operations [4][5][6]. - Trend Strength: The trend strength of nickel and stainless steel is 0, indicating a neutral outlook [9]. Lithium Carbonate - Fundamental Data: The closing price of the 2605 contract was 152,640, up 3,220 from the previous day. Data on trading volume, open interest, basis, and prices of upstream and downstream products in the lithium - salt industry chain also showed corresponding changes [11]. - Macro and Industry News: Samsung SDI has made a breakthrough in lithium - metal batteries, and the construction project of Zijin Mining's solid - state battery lithium - new material has started [12][13]. - Trend Strength: The trend strength of lithium carbonate is 1, indicating a slightly bullish outlook [13]. Industrial Silicon and Polysilicon - Fundamental Data: The closing price of the Si2605 contract was 8,395 yuan/ton, up 60 from the previous day; the closing price of the PS2605 contract was 49,305 yuan/ton, up 290 from the previous day. There were changes in trading volume, open interest, basis, prices, and profits of related products, and the price of silicon wafers decreased [15]. - Macro and Industry News: China Pingmei Shenma Group, Longi Green Energy, and the Zambian government signed a cooperation memorandum for a 1000 - megawatt solar - power project [15][17]. - Trend Strength: The trend strength of industrial silicon and polysilicon is 0, indicating a neutral outlook [17].