国泰君安期货商品研究晨报：绿色金融与新能源-20260313

1. Report Industry Investment Rating - No relevant information provided in the report. 2. Core Viewpoints of the Report - Nickel: The tight supply at the ore end supports the current situation, but the accumulation of inventory in the smelting process limits its upward potential [2][4]. - Stainless Steel: Subject to the influence of macro - risk preference, the current cost center has shifted upwards [2][4]. - Lithium Carbonate: Inventory is being depleted, and supply and demand are tight [2][12]. - Industrial Silicon: Attention should be paid to cost - end support [2][17]. - Polysilicon: The supply - demand pattern is weak [2][18]. 3. Summary According to Relevant Catalogs Nickel and Stainless Steel - Fundamental Data: The closing price of the Shanghai Nickel main contract was 138,100 yuan, with a change of 940 yuan compared to T - 1. The closing price of the stainless - steel main contract was 14,285 yuan, with a change of 70 yuan compared to T - 1. Other data such as trading volume, prices of related products, and profit margins are also presented [4]. - Macro and Industry News: The Indonesian government plans to revise the benchmark price formula for nickel ore products, and some nickel - mining companies have production - related news, including production quota changes, mine restarts, and accidents [4][5][8]. - Trend Intensity: The trend intensity of nickel and stainless steel is 0, indicating a neutral outlook [11]. Lithium Carbonate - Fundamental Data: The closing price of the 2605 contract was 156,980 yuan, with a change of 1,940 yuan compared to T - 1. Other data such as trading volume, position, and prices of related products in the lithium - carbonate industrial chain are provided [14]. - Macro and Industry News: The "Longdian Ru Xiang" project has achieved high - volume power transmission, and LG New Energy plans to commercialize a high - performance LFP battery in 2027 [15][16]. - Trend Intensity: The trend intensity of lithium carbonate is 0, indicating a neutral outlook [16]. Industrial Silicon and Polysilicon - Fundamental Data: The closing price of the Si2605 contract was 8,645 yuan/ton, with a change of 25 yuan compared to T - 1. The closing price of the PS2605 contract was 42,760 yuan/ton, with a change of 170 yuan compared to T - 1. Data on trading volume, position, price, profit, and inventory are also presented [18]. - Macro and Industry News: The "15th Five - Year Plan" proposes 109 major projects and projects in six aspects [18][20]. - Trend Intensity: The trend intensity of industrial silicon and polysilicon is 0, indicating a neutral outlook [20].