国泰君安期货商品研究晨报：绿色金融与新能源-20260317

1. Report Industry Investment Rating No information provided in the given content. 2. Core Views of the Report - Nickel: Smelting inventory accumulation and macro - sentiment resonate, and the shortage at the ore end supports the lower limit [2][4] - Stainless steel: Fundamental and macro factors exert pressure, while the actual cost provides support [2][4] - Lithium carbonate: Pay attention to the information from meetings [2][12] - Industrial silicon: In a range - bound oscillation pattern [2][17] - Polysilicon: Pay attention to the boost from the market sentiment [2][18] 3. Summary by Relevant Catalogs Nickel and Stainless Steel - Fundamental Data: The closing price of the Shanghai nickel main contract was 136,400, down 530 from the previous day; the closing price of the stainless - steel main contract was 14,120, down 70. The trading volume of the Shanghai nickel main contract decreased by 52,020, and that of the stainless - steel main contract increased by 59,058 [4] - Macro and Industry News: The Indonesian government will revise the benchmark price formula for nickel ore products, considering cobalt as an independent commodity for royalty collection; a Swiss company plans to restart its nickel mine business in Guatemala; the approved nickel ore production quota in Indonesia is between 260 million and 270 million tons; a landslide occurred in an Indonesian industrial park, and a company in Cuba reduced its operations due to fuel supply limitations [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 159,620, up 7,540; the trading volume decreased by 56,759. The spot - 2605 basis was - 3,120 [14] - Macro and Industry News: A company's convertible bond issuance will be invested in multiple projects; State Grid Shandong Electric Power and Huawei signed a cooperation agreement [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 8,685, up 10; the closing price of the PS2605 contract was 41,705, down 335. The industrial silicon social inventory was 55.2 million tons, and the polysilicon manufacturer inventory was 35.7 million tons [18] - Macro and Industry News: A US company acquired a Swiss company's assets and patents to promote the construction of gigawatt - scale production capacity [18][20] - Trend Intensity: The trend intensity of industrial silicon and polysilicon is 0, indicating a neutral outlook [20]