氢氧化镍钴

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中国中冶(601618):铜、镍等矿产储量持续增加 受益旺季和降息涨价弹性大
Xin Lang Cai Jing· 2025-08-23 10:35
瑞木镍钴矿镍储量增至184.2 万吨、钴储量增至20.9 万吨,杜达铅锌矿预计25 年铅锌储量翻倍增长。(1) 巴布亚新几内亚瑞木镍钴矿2024 年底受益于探矿权范围内的勘探找矿成果,项目估算保有镍资源量进 一步增至184.2 万吨、钴资源量增至20.9 万吨。2024 年累计生产氢氧化镍钴含镍28669 吨、含钴2625 吨,销售氢氧化镍钴含镍30523 吨、含钴2793吨,实现营业收入29.7 亿元、归属中方利润总额4.6 亿 元,利润总额占比5.0%。(2)LME 镍8 月15 日收盘价15195 美元/吨,同比下降6.9%。 投资要点: 维持增持。维持预 测2025-2026年EPS0.34/0.36元增5%/4%,预测2027年EPS0.37 元增4%,给于2025 年 12.9 倍PE,目标价4.4 元。 阿富汗艾娜克铜矿预计2025 底实现实质性推动,巴基斯坦锡亚迪克铜矿有望年内启动矿建。(1)2024 年 阿富汗艾娜克铜矿项目开展西矿区Ⅱ期补充勘探,将西矿区资源提高到勘探级别,增加128 万吨铜资源 量,使得该项目整体资源量增长到1236 万吨。(2)2025 年8 月2 日,艾娜克铜矿项目进 ...
广东东盟携手共谋合作新路径!“粤链东盟”平台启动助力跨境发展
Guang Zhou Ri Bao· 2025-06-10 15:22
Group 1 - The event held in Guangzhou on June 10 focused on enhancing cross-border cooperation between Guangdong and ASEAN countries, aiming to boost bilateral trade and investment [1][3] - Multiple cooperation outcomes were achieved, including the signing of a memorandum of cooperation between Guangdong Provincial Council for the Promotion of International Trade and ASEAN business organizations, and the establishment of the "Guangdong-ASEAN International Supply Chain Cooperation Alliance" [1][10] - The total trade volume between Guangdong and ASEAN is projected to account for one-fifth of China's trade with ASEAN by 2024, highlighting the growing importance of this partnership [3][6] Group 2 - The "Yue Chain ASEAN" online platform was launched to facilitate cross-border cooperation and enhance the level of supply chain collaboration between Guangdong and ASEAN [9][10] - Guangdong enterprises are increasingly investing in ASEAN markets, with significant projects in sectors such as green energy, digital economy, and manufacturing [3][6] - The establishment of trade and investment service centers in Cambodia, Malaysia, Singapore, Indonesia, and Vietnam aims to support Guangdong enterprises in expanding their market presence [10][12] Group 3 - The beauty and cosmetics industry is expected to see significant growth in trade between China and ASEAN, with bilateral trade projected to reach $982.3 billion by 2024 [6] - Guangdong's manufacturing capabilities and technological innovation are seen as key advantages for ASEAN countries, particularly Indonesia, which is looking to strengthen its industrial base [4][6] - The collaboration between Guangdong and ASEAN is expected to create new business opportunities and enhance the efficiency of regional supply chains [3][10]
广新集团出海东盟战略成效显现,印尼新项目总投资约20亿美元丨粤链东盟
2 1 Shi Ji Jing Ji Bao Dao· 2025-06-10 06:12
Group 1 - The core event is the signing of the Indonesia Guangqing Nickel-Cobalt Hydrometallurgy Project by Guangxin Group, marking a significant milestone in deepening cooperation with ASEAN in the industrial chain [1][3] - Guangxin Group is a wholly state-owned enterprise of the Guangdong provincial government, focusing on manufacturing, capital investment, and market-oriented operations, ranking 414th in the Fortune Global 500 in 2024 [1] - The group has increased its international presence, with overseas revenue accounting for 36%, and ASEAN being a primary market, contributing 54.2 billion yuan, which is 86.3% of its overseas revenue [1][2] Group 2 - The Indonesia Guangqing project, initiated in 2014, is a key Belt and Road Initiative project with a total investment of 1.031 billion USD, generating approximately 35 billion USD in revenue since its inception [2] - Guangxin Group is expanding its manufacturing and supply chain projects in ASEAN, including investments in aluminum, steel, and textile industries across Vietnam, Thailand, and Cambodia [2] - The new nickel-cobalt project has a total investment of about 2 billion USD, expected to start trial production by the end of 2026, with an anticipated annual profit of 2 billion yuan [3]
湖北加快打造内陆开放高地(奋勇争先,决战决胜“十四五”)
Ren Min Ri Bao· 2025-05-18 22:02
Group 1: Economic Development and Open Policies - Hubei province is enhancing its hub capabilities and striving to build an inland open highland, focusing on regional cooperation and optimizing industrial layout [1][2] - The province aims to promote development through openness, establishing a modern industrial system that reflects Hubei's advantages [1][3] - Hubei has attracted over 325 Fortune 500 companies and more than 10,000 foreign-invested enterprises, emphasizing the importance of foreign investment in developing new productive forces [2][3] Group 2: Automotive and High-Tech Industries - Dongfeng Motor's Yunfeng factory produces a new energy vehicle every 118 seconds, marking a significant milestone with the production of the 10 millionth new energy vehicle [2] - Hubei's high-tech sectors, including new energy vehicles and integrated circuits, saw an 18.1% increase in exports, with high-value products accounting for over half of total exports [3][4] - The automotive supply chain in Hubei is becoming more resilient, with over 400 manufacturing foreign-funded enterprises concentrated in the region [2][3] Group 3: Logistics and Transportation Infrastructure - Hubei is enhancing its logistics system by opening new shipping routes, such as the direct shipping line from Indonesia to Wuhan, which reduces logistics costs [5][6] - The province has established a multi-modal transport system, integrating rail, water, and road transport to improve efficiency and reduce costs by 15% [6][7] - Wuhan Yangluo Port has become the largest container terminal in the middle and upper reaches of the Yangtze River, with 35 container shipping routes established [5][6] Group 4: Business Environment and Cost Reduction - Hubei is implementing reforms to create a market-oriented, law-based, and international business environment, including customized land supply services to reduce costs for enterprises [7][8] - The province has reduced the number of required documents for business approvals from 27 to 9, significantly shortening the approval time from over 120 days to around 40 days [9] - Hubei aims to build a competitive cost advantage and improve government services, with over 1,000 items now available for processing across the province [9]
锌矿进口或受影响,短期维持偏空评级
Xin Da Qi Huo· 2025-05-08 01:32
Report 1: Zinc Futures Research Report 1. Report Industry Investment Rating - Zinc - Bearish outlook [1] 2. Core View - Tariff impact is temporarily receding, short - term supply is changing from tight to loose, and in the medium - to - long - term, there is an overall surplus, so it should be viewed bearishly [3] 3. Summary by Directory Macro & Industry News - Due to the trade war, Teck is considering other export options for its US concentrates. After China imposed a new round of retaliatory tariffs on US goods, Teck's lead - zinc concentrates from the Red Dog mine in Alaska became a "victim" of the Sino - US trade conflict. The company's business team is evaluating various solutions [1] Supply - Mining enterprise profits are affected by tariff policies, with single - ton profits shrinking from over 6,000 to around 4,000. However, TC prices have not declined, indicating no production cuts at the mine end. The supply side is generally becoming looser, and the possibility of production cuts for both pure smelting and integrated enterprises is extremely low [2] Demand - The peak demand season of "Golden March and Silver April" is coming to an end. Galvanizing shows low capacity utilization and production, and manufacturers' production enthusiasm is low. The demand for zinc ingots is expected to decline in the short term. In the die - casting alloy and zinc oxide markets, demand is weak [3] Conclusion - Tariff impact is temporarily receding, short - term supply is changing from tight to loose, and in the medium - to - long - term, there is an overall surplus, so it should be viewed bearishly [3] Operation Suggestion - Wait for an opportunity to short; if there is no rebound, the downside space is limited [4] Report 2: Nickel and Stainless Steel Futures Research Report 1. Report Industry Investment Rating - Nickel - Short after a rebound; Stainless steel - Hold [5] 2. Core View - Although the Sino - US trade concerns remain, market sentiment has eased. Nickel prices have rebounded in the short term, but the fundamental trend of surplus remains unchanged. The support from the mine end is not sustainable [6] 3. Summary by Directory Macro & Industry News - In the first week of May 2025, the price of 1.6% grade nickel ore (CIF) increased by $1.1 per metric ton, while the price of 1.2% grade nickel ore (CIF) remained stable. Some processed product prices declined [5] Supply - Indonesia has increased mining royalties, and the price at the mine end is firm. The probability of the mine end becoming looser is high. The profit of ferronickel produced from medium - grade nickel ore is close to the break - even point, while the profit from low - grade nickel ore is still substantial. The total supply of domestic electrolytic nickel remains at a high level, and the cost of electrowinning nickel is expected to decline [5] Demand - In the process of producing nickel sulfate from nickel beans, the nickel cost is about 127,000 yuan, which is consistent with the technical pressure level. The demand support from downstream nickel sulfate cost is about 134,000 yuan/ton, and the profit critical point for external - purchasing manufacturers is about 137,000 yuan/ton. The possibility of stainless steel production cuts is small [6] Conclusion - Although the Sino - US trade concerns remain, market sentiment has eased. Nickel prices have rebounded in the short term, but the fundamental trend of surplus remains unchanged. The support from the mine end is not sustainable [6] Operation Suggestion - Short [7]