今天商品和权益市场演了一出极其吊诡的"双簧"。 碳酸锂期货主力合约早盘放量高开超11.42%，盘中一度逼近187,700元/吨的大关。 正当股民以为锂电上游能像同期的稀有金属（稀土、钨、锑），以及贵金属板块狠狠涨一波时。谁知，明星概念股却是两极分化。 盐湖股份、天齐锂业、赣锋锂业等核心标的强势高开，而盛新锂能、雅化集团等却大幅领跌。 | 177 77 177 | | | I | | --- | --- | --- | --- | | 代码 | 名称 | 最新价 | 涨跌幅 | | 300438 | 鹏辉能源 | 43.47 | -9.15 | | 002497 | 雅化集团 | 26.44 | -8.76 | | 002009 | 天吉股份 | 31.06 | -6.53 | | 002240 | 盛新理能 | 42.26 | -6.50 | | 002759 | 天际股份 | 38.50 | -5.94 | | 300390 | 天华新能 | 49.90 | -5.51 | | 000973 | 佛塑科技 | 13.72 | -5.44 | | 301100 | 风光股份 | 23.84 | -5.17 | ...

Charles Zhuang 庄怀超 SFC CE: BTE209 微信: zhuangcharles; 电话: (852) 9748 7114; 26 Feb 2026 环球富盛理财有限公司 米高集团 MIGAO Group (9879.HK) 25Q2-Q3 净利润同比增长 22.1%，拓展越南市场和中东市场 25Q2-Q3 Net Profit +22.1% YoY & Expand the Vietnamese and Middle Eastern markets 最新动态 ➢ 2026 财年六个月净利润同比增长 22.1%。2026 财年六个月，集团继续巩固其作为中国领先钾肥企业的地位。于该期 间，集团收入同比增长约 10.5%至人民币 23.52 亿元，该增长主要受集团在钾肥市场所提供产品的整体平均售价上升 所推动，增幅足以抵消集团所提供产品及生产服务总销量下降约 15.0%（由 2025 财年六个月的约 103.70 万吨降至 2026 财年六个月的约 88.10 万吨）。收入增长反映尽管集团上调钾肥产品的整体平均售价以应对全球钾肥市场波动， 但对集团所提供产品及生产服务的市场需求持续上升。20 ...

本就处于紧平衡的锂盐市场，供给端再添重要变量。 2026年2月25日，津巴布韦矿业部发布锂矿出口禁令，涵盖在途货物，且无明确恢复时间表。 津巴布韦，是过去几年全球锂精矿增长最迅速的国家之一，此前曾吸引多家中资锂业公司参与当地资源开发。 相关数据显示，2025年，中国进口锂精矿总量约为775.1万吨，其中从津巴布韦进口量达120.4万吨，占总进口量的15.5%左右，是仅次于澳大利亚的第二大 进口来源国。 因为有刚果（金）暂停出口引发2025年钴价上涨的案例在先，此次津巴布韦限制锂精矿出口也加重了市场各方对锂产品涨价的预期。 不过，节后碳酸锂期、现价格已经连续大涨，逼近今年1月下旬的前期高点，加之该品种多空博弈激烈，26日多个期货合约高开低走，锂矿指数涨幅也大幅 收窄至1.19%。 | 序号 | 代码 | 名称 | 现价 | 浙庆 | 涨跌幅 ▼ | | --- | --- | --- | --- | --- | --- | | 1 | 000546 | 美国股份 | 6.83 c | 0.62 | 9.98% | | 2 | 000792 | 非湖股份 | 39.01 c | 2.81 | 7.76% | | ...

津巴布韦暂停出口原矿和锂精矿，不仅对全球锂行业产生影响，也波及了全球锂板块的股价表现。北京时间2月26日，全球最大盐湖提锂企业智利矿业化工 （SQM）股价上涨3.68%，全球锂矿巨头美国雅保（ALB）上涨4.84%。A股方面，盐湖股份开盘一度冲击涨停，天齐锂业（SZ002466，股价56.04元，市值 956.18亿元）盘中一度大涨超5%。 这一消息发布得十分突然。新华社于2月25日晚间9时22分发布了相关英文报道。当晚，每经记者联系了在津巴布韦有项目的A股锂企高管以及长期从事非洲 锂矿勘探研究的大学教授进行核实，对方均表示消息来得突然。 "（25日）中午就收到确认消息了，影响很大，津巴布韦是非洲最重要的锂矿供应国。"该高校教授表示，暂停锂精矿出口在去年已有迹象。2023年他去考察 时，当地政府已有此打算，但因锂价下跌未能实施。2019年到2023年恰好是全球锂矿的第二轮历史大周期，碳酸锂价格从不足10万元/吨一度飙升至60万元/ 吨，而2023年正是锂价由牛转熊的分水岭。他认为，此次政策反映出关键金属的资源争夺正在加剧，资源正日益成为稀缺品和硬通货。 两家锂企的董秘坦言，也是在2月25日才看到这项政策，"之 ...

2月26日早盘，A股三大指数集体调整，化工板块逆势上涨。截至10:15，中证石化产业指数上涨 1.1%，指数成分股中，盐湖股份涨超8%，蓝晓科技涨超5%，博源化工、藏格矿业涨超3%。 近日，美国将元素磷、草甘膦等正式纳入关键战略物资管控范围，引发全球磷供应链重构预期，全 球磷资源供给格局正加速向紧平衡演变。中国作为全球磷产能占比超60%的生产大国，在此轮国际订单 转移中承接更多出口份额，行业议价能力有望增强。 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 每日经济新闻 除事件催化外，化工板块正迎来多重逻辑共振。供给端，"反内卷"政策持续推进，落后产能加速出 清，行业固定资产投资增速转负；需求端，新能源、半导体材料等新兴产业需求崛起，叠加春耕备肥旺 季临近，农化需求集中释放；出口链方面，美国关税政策调整落地，海外库存低位，补库需求有望释 放。 化工行业正从单纯的周期博弈转向"周期复 ...

Core Viewpoint - The Zimbabwean government announced an immediate suspension of all lithium concentrate exports on February 25, significantly impacting the global lithium supply chain and raising strong expectations for lithium carbonate price increases [1][5]. Group 1: Market Reaction - Following the announcement, domestic lithium carbonate futures surged by 12% to 187,000 CNY per ton on February 26, closing with a 3.47% increase at 173,700 CNY per ton [1]. - The A-share lithium mining sector also saw gains, with stocks like Erkang Pharmaceutical rising over 12% and other companies like Keli Yuan and Jinyuan shares increasing by 10% [3]. Group 2: Supply Chain Impact - The export ban is expected to create significant disruptions in global lithium supply, especially as current inventories are low and have been depleting for five consecutive weeks [4][6]. - Zimbabwe, as Africa's largest lithium exporter, accounted for approximately 10% of global lithium production in 2025, with China importing about 120,000 tons of lithium concentrate from Zimbabwe, representing 15.5% of its total imports [6][7]. Group 3: Industry Forecasts - Analysts predict that if the ban continues, there could be a supply gap of 37,000 to 57,000 tons for the year, pushing lithium carbonate prices higher due to increased domestic reliance on imported lithium resources [7]. - The tightening supply is expected to maintain a strong price trend for lithium carbonate, driven by demand from energy storage and electric vehicle sectors [6][7]. Group 4: Company Responses - Companies with lithium mining operations in Zimbabwe, such as Shengxin Lithium Energy and Zhongkuang Resources, have varied responses to the export ban, with some having already shipped their lithium concentrate [8]. - The ban is anticipated to raise export thresholds and industry concentration, benefiting companies with valid mining licenses while excluding unlicensed traders [8].

盘面上，两市高开高走，化工概念板块上涨。相关ETF方面，化工ETF天弘（159133）标的指数盘 中涨3.24%，申购额达750万份；成交额达4176.96万元；换手率达1.49%。成分股中，川发龙蟒、云天化 涨停，和邦生物、兴发集团、博源化工、宏达股份、多氟多涨超5%，万华化学、鲁西化工、龙佰集团 等多股跟涨。 化工ETF天弘（159133）紧密跟踪细分化工指数，该指数近一年涨幅达56.38%，其行业配置主要包 括化学制品（26.18%）、农化制品（22.71%）、化学原料（14.01%）等，前五大成分股为万华化学、 盐湖股份、藏格矿业、天赐材料、华鲁恒升。该ETF还配备了2只场外联接基金（A类：015896；C类： 015897）。 （责任编辑：董萍萍 ） 消息面上，细分化工板块今日受到多重积极因素提振。其一，据国海证券、国盛证券等机构研报显 示，行业"反内卷"政策持续深化，推动聚酯、有机硅等多个子行业通过联合减产优化供给格局。其二， 产品价格层面出现积极信号，据百川盈孚及相关券商跟踪，分散染料关键中间体还原物价格显著上涨， 同时维生素E出口报价上调，TMP产品也因装置检修供给趋紧。其三，据申万宏源证券报 ...

Group 1 - The lithium mining sector showed active performance on February 26, with the lithium index rising by 1.19%, and companies like Jinyuan Co., Yanhua Co., and others seeing significant gains [1] - Zimbabwe's Ministry of Mines announced a suspension of all raw and lithium concentrate exports effective immediately, impacting all currently transported minerals without a clear timeline for resumption [1] - Zimbabwe is the largest lithium exporter in Africa and the second-largest source of lithium concentrate imports for China, with imports expected to reach approximately 7.75 million tons in 2025, a year-on-year increase of about 39.4% [1] Group 2 - Yahua Group stated that the Zimbabwe export ban will not affect its normal production and operations, as its projects comply with the new regulations, and it has resubmitted export applications [2] - China Mineral Resources indicated that all Chinese exports of lithium concentrate from Zimbabwe are currently halted, awaiting further policy details, while Huayou Cobalt noted that the impact of the ban is still uncertain [2] - According to Huatai Futures, the export ban is expected to significantly impact lithium supply in the short term, with approximately 1.2 million tons of lithium concentrate expected to be imported from Zimbabwe in 2025 [2][3] Group 3 - CITIC Securities reported that the export ban aims to enhance mineral regulation and promote deep processing of mineral products, with Zimbabwe expected to account for 12% of global lithium resource output by 2026 [3] - The ban is likely to exacerbate the short-term supply shortage of lithium carbonate in China, potentially leading to a significant increase in lithium prices [3]

Group 1 - The core viewpoint of the articles highlights the recent performance of the agricultural and livestock sector, particularly the rise in prices of key fertilizers such as urea, potassium sulfate compound fertilizer, and monoammonium phosphate, indicating a seasonal sales peak in the industry [1] - The China Securities Agricultural and Animal Husbandry Theme Index (931778) saw a rise of 0.53%, with notable increases in stocks such as Salt Lake Co. (up 7.76%), Andisu (up 4.68%), and Guangxin Co. (up 2.90%) [1] - The price of monoammonium phosphate (55% powder) reached 3,850 yuan/ton on February 24, marking a year-on-year increase of 16.67%, attributed to seasonal demand and rising raw material costs [1] Group 2 - According to Everbright Securities, the agricultural chemical industry is currently in a cyclical bottom phase, with prices of mainstream raw materials and herbicides remaining low [1] - The overall industry sentiment is showing signs of marginal improvement due to the stabilization of global agricultural demand and the bottoming out of inventory cycles [1] - The focus of competition in the industry is shifting from mere scale expansion to value enhancement driven by technology, with a positive outlook for leading companies with comprehensive product and intermediate capacity layouts, as well as those deeply engaged in the development of innovative pesticides [1][2]

有色金属 2026 年 2 月 26 日 氧化镨钕价格已至 85 万元/吨，近一个月涨 26%、近三个月涨 56% ——金属新材料高频数据周报（20260209-20260215） 要点 军工新材料：电解钴价格上涨。（1）本周电解钴价格 42.30 万元/吨，环比 +0.7%。本周电解钴和钴粉价格比值 0.74 ，环比+0.7%；电解钴和硫酸钴价 格比值为 4.31 ，环比+0.7%。（2）碳纤维本周价格 83.8 元/千克，环比 +0%。毛利-9.19 元/千克。 新能源车新材料：氢氧化锂价格上涨。（1）本周碳酸锂和氢氧化锂价格分别 为 14.38 、13.76 万元/吨，环比+6.9%、+3.9%。（2）本周硫酸钴价格 9.53 万元/吨，环比+0%。（3）本周磷酸铁锂、523 型正极材料价格分别为 5.24 、18.73 万元/吨，环比+0%、+4.1%。（4）本周氧化镨钕价格 849.82 元/公斤，环比+12.2%。 光伏新材料：价格持平。（1）本周光伏级多晶硅价格 6.19 美元/千克，环比 +0%。（2）本周 EVA 价格 9,650 元/吨，环比+0%，处于 2013 年来较低位 置。（3）本 ...