Core Viewpoint - The explosion at Iran's Shahid Rajaee Port has disrupted the global supply chain of celestine, leading to a potential reshaping of the industry due to China's heavy reliance on Iranian imports [1] Group 1: Impact of the Explosion - The explosion at Abbas Port, a key hub for 55% of Iran's non-oil imports, has caused a complete halt in celestine imports to China, resulting in urgent inventory shortages for domestic strontium carbonate producers [1] - The global supply of celestine has faced triple shocks, including the cessation of Iranian supply, a fire at the Kandelium plant in Mexico that halted 40,000 tons of production (12% of global supply), and a 30% production cut in Spain due to environmental reviews [3][4] Group 2: Price and Production Dynamics - The price of strontium carbonate has surged to over 16,000 yuan per ton, doubling compared to 2024, with projections suggesting it could reach historical highs of 30,000 yuan per ton if the Iranian port remains closed for over three months [6] - Domestic mining of low-grade celestine is costly and cannot meet the high-end magnetic material demand, leading to a "price without product" situation for leading companies like Jinrui Mining [7] Group 3: Industry Response and Future Outlook - The crisis is accelerating the iteration of domestic production technologies, with some companies achieving 99.9% purity in their products, previously relying on 68% imported high-end strontium carbonate technology [7] - The rising costs of magnetic materials are pressuring electric vehicle manufacturers to increase prices, leading to an accelerated industry reshuffle [8] - A supply-demand imbalance is expected to worsen, with China's annual demand of 200,000 tons against an effective production capacity of 160,000 tons, exacerbated by the Iranian supply disruption [9] Group 4: Relevant Companies - Jinrui Mining is a leading player in the domestic strontium salt industry, covering the entire celestine mining to high-end strontium salt production chain [11] - Woge Optoelectronics is noted for its advanced technology in glass-based semiconductor packaging and is identified as a potential beneficiary of the celestine supply crisis [12]