2月27日，A股主要指数早盘集体下挫。截至午盘，沪指跌0.17%，深证成指跌0.68%，创业板指跌 1.46%。沪深北三市半日成交15966亿元，较上日缩量532亿元。全市场超2300只个股上涨。 盘面上，受涨价催化影响，钨、稀土等稀有金属板块集体爆发，章源钨业7天5板，中钨高新等多股创历 史新高。受中国AI模型调用量首超美国消息刺激，算力租赁板块盘中大幅拉升，云天励飞等多股大 涨。个股方面，兼具"电力+算力"双重热点的豫能控股（001896）开盘即直线拉升，1分钟内涨停，走出 7连板。 豫能控股连收7个涨停板 2月11日晚间，豫能控股就此次交易披露补充暨风险提示公告。公司提示，本次仅参股投资先天算力， 增资金额预计不超过14亿元，增资比例预计不超过49%，不会合并先天算力财务报表。 2月27日，豫能控股开盘后直线涨停，盘中短暂开板后迅速回封，截至午间休市，换手率8.07%，成交 金额16亿元。自2月11日公告布局算力业务以来，公司股价一路高歌猛进，连续7个交易日涨停，从6.85 元一路飙升至13.34元，实现股价近乎翻倍，成为电力与AI算力两大主线共振下的市场龙头。 | | | | | | | | | 00 ...

钨指数爆发再度爆发，章源钨业7天5板，翔鹭钨业涨停，中钨高新、厦门钨业跟涨。 | 还原 | લ્દ્રીને 涨幅 : | 名称 | 现价 | 涨跌 | 换手 | 量出 | 年初至今 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 002842.SZ 翔蟹钨业 +10.01% | | 41.56 | +3.78 | 13.26% | 3.30 | 187.41% | | 2 | 002378.SZ 章源钨业 +10.00% | | 40.60 | +3.69 | 3.11% | 2.55 | 186.32% | | ო | 000657.SZ 中钨高新 +8.22% | | 65.15 | +4.95 | 3.37% | 3.40 | 135.11% | | ব | 600549.SH 厦门钨业 +7.75% | | 68.71 | +4.94 | 2.68% | 3.82 | 67.34% | 章源钨业上调2026年2月下半月长单采购报价。消息面上，章源钨业公布2026年2月下半月长单采购报价：55%黑钨精矿：73.00万元/标吨；55% ...

另外，最近油价上涨，也带动了化工品涨价预期。 电子元器件和周期品涨价，是最近市场的主要交易逻辑。 今天上午，周期品涨价主线表现更强，化工、有色金属、港口航运等板块上涨，市场对周期股的热情又蔓延至钢铁、煤炭、水泥、造纸等其他周期板块。 周期股上午掀起涨停潮，其中，北方稀土、包钢股份等龙头股涨停。 截至上午收盘，上证指数上涨1.2%，深证成指上涨1.47%，创业板指上涨1.43%，科创综指上涨0.77%。 | 上证指数 | 深证成指 | 科创综指 | | --- | --- | --- | | 4166.72 | 14501.50 | 1812.09 | | | +49.31 +1.20% +209.94 +1.47% +13.88 +0.77% | | | 万得全A | 创业板指 | 北证50 | | 6915.91 | 3355.66 | 1539.69 | | +87.33 +1.28% | +47.39 +1.43% | +4.26 +0.28% | 具体看周期品涨价主线，化工板块中，磷化工、钛白粉、化肥、草甘膦等板块大涨，清水源、川金诺等个股大涨。 | V | 磷化工 3470.56 5.50% | D ...

智通财经记者 | 田鹤琪 中钨在线统计显示，章源钨业黑钨精矿（WO3≥55%）报73万元/标吨，较上半月报价上涨8.96%；白钨精矿（WO3≥55%）较上半月报价上涨8.97%；仲钨酸 铵报（国标零级）107万元/吨，上涨10.31%。 步入2026年，这股上涨动能并未减弱。据中钨在线，春节后复工首日，钨市开工率尚未完全恢复，但市场报价普遍坚挺。 该机构数据显示，2月24日，黑钨精矿（规格≥65%）价格为70.5万元/吨，较年初上涨53.26%；仲钨酸铵(APT)价格为105万元/吨，较年初上涨56.72%；钨粉 价格为1740元/千克，较年初上涨61.11%。 | | | | 截至2026年2月24日钨制品价格涨跌幅 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 商品名称 | 黑钨精矿(65%) | 日钨精矿(65%) | 仲钨酸铵(APT) | 铝粉 | 碳化钨粉 | 70钨铁 | 备注 | | | 力元/标吨 | 万元 标吨 | 力元 吨 | 元/千克 | 元/千克 | 万元/吨 | | | 2026 2 24 | 70.50 ...

电子元器件和周期品涨价，是最近市场的主要交易逻辑。 今天上午，周期品涨价主线表现更强，化工、有色金属、港口航运等板块上涨，市场对周期股的热情又蔓延至钢铁、煤炭、水泥、造纸等其他周期板块。 周期股上午掀起涨停潮，其中，北方稀土、包钢股份等龙头股涨停。 另外，最近油价上涨，也带动了化工品涨价预期。 对于化工板块的投资逻辑，业内人士表示，从行业数据看，2025年三季度化工板块在建工程已连续三个季度同比下滑，资本开支增速显著放缓，供给端压 力大幅下降。需求端，从全球视角来看，化工整体需求在逐步改善。同时，当前化工行业大多数子行业开工率维持在80%以上，库存处于偏低水平，一旦 需求改善，化工品价格弹性可能非常大。 分析人士表示，化工板块估值修复将呈现轮动、扩散式特征，而非全品种普涨。估值先行修复的品种主要有以下特征：具备成本优势、供应受限且出口增 加、全球产能出清后供需紧平衡、与新质生产力紧密相关。 | 女达科技 | 7.88 | 11.46% | 36.2 乙 | | --- | --- | --- | --- | | 融 920809 | | | | | 川发龙蟒 | 14.04 | 10.03% | 264亿 | ...

Core Viewpoint - Tungsten, known as "industrial teeth," is experiencing a surge in demand and price due to supply constraints and strong market demand [1][2]. Group 1: Price Increases - The long-term procurement prices for tungsten products have significantly increased, with 55% black tungsten concentrate rising by 28.1% to 670,000 CNY/ton and 55% white tungsten concentrate increasing by 28.2% to 669,000 CNY/ton [2][3]. - Ammonium paratungstate (standard grade zero) long-term procurement price rose by 27.6% to 970,000 CNY/ton [2]. Group 2: Supply and Demand Dynamics - Domestic mining operations are conservatively producing, leading to a weak market increment expectation and further price adjustments for long-term contracts [2]. - The supply side is facing tightening due to stricter safety and environmental regulations, resulting in decreased production and shipments from some mines [2][3]. - Demand remains stable, primarily driven by essential purchases, particularly in the PCB tool sector [2]. Group 3: Future Price Outlook - Institutions are optimistic about the future price of tungsten, with expectations for continued strong performance and new highs [3]. - The global tungsten production is projected to increase from 82,800 tons in 2025 to 89,900 tons by 2028, while demand is expected to rise from 102,100 tons to 110,000 tons, indicating a potential supply-demand gap [3]. Group 4: Stock Market Response - A-share tungsten concept stocks have reacted positively to the price increases and supply-demand changes, with several stocks hitting the daily limit [4]. - Notable performers include Xianglu Tungsten Industry and Zhangyuan Tungsten Industry, both of which saw significant price increases [4][5]. - Xianglu Tungsten Industry has achieved a cumulative increase of 166.32% this year, reflecting strong market interest [5].

Core Viewpoint - The news highlights the rising prices of key mineral resources in China, driven by geopolitical factors and supply chain security concerns, with a focus on tungsten and rare earth elements. Group 1: Market Trends - Domestic prices for 65% black tungsten concentrate have increased to 697,000 yuan per ton, up by 7,000 yuan from the previous trading day [2] - Similarly, the price for 65% white tungsten concentrate has also risen to 696,000 yuan per ton, reflecting the same increase [2] - The overall trend indicates a tightening supply of critical mineral resources, leading to upward price pressure [2] Group 2: Industry Insights - China Galaxy Securities notes that major countries are enhancing their resource supply security by controlling key minerals and increasing resource reserves, which will widen the supply gap for critical minerals globally [2] - The establishment of independent supply chains by these countries is expected to stimulate economic activity through rising metal prices, contributing to a "security premium" on global mineral resources [2] - The report emphasizes a bullish outlook on the prices of copper, tungsten, and rare earths due to their high demand and supply constraints [2] Group 3: Company Recommendations - Companies to watch include Zijin Mining, Luoyang Molybdenum, Minmetals Resources, Zhongtung High-tech, Xiamen Tungsten, Northern Rare Earth, China Rare Earth, and Shenghe Resources, as they are positioned to benefit from the rising prices of key minerals [2]

Market Overview - The three major A-share indices showed mixed performance today, with the Shanghai Composite Index rising by 0.09% to close at 4131.99 points, while the Shenzhen Component Index fell by 0.35% to 14160.93 points, and the ChiNext Index dropped by 1.08% to 3284.74 points. The total trading volume in the Shanghai and Shenzhen markets was 200.12 billion, a decrease of 123.7 billion from the previous day [1]. Rare Metals Sector Performance - The rare metals sector led the market gains today, driven by rising futures prices. Notable stocks included Zhongtung High-tech and Zhangyuan Tungsten, which hit the daily limit, while Xiamen Tungsten and Jinchuan Group rose over 7%, and Huayou Cobalt increased by over 5%. This momentum also boosted the Rare Metals ETF and related funds, which rose by more than 3.5% [1]. Rare Metals ETF Details - The Rare Metals ETF, which tracks the CSI Rare Metals Index, saw a rise of 3.86% today and has gained 15.70% year-to-date, with an estimated scale of 6.588 billion. Other related ETFs also showed positive performance, with the Industrial Bank Rare Metals ETF rising by 3.79% and the Rare Metals ETF Fund increasing by 3.53% [2]. Commodity Price Movements - There was a significant increase in commodity prices today, with lithium carbonate rising over 5%, nickel up over 4%, and other metals like tin and stainless steel increasing by over 2%. The main contract for lithium carbonate on the Guangzhou Futures Exchange surged by 9%, reaching 150,000 yuan/ton [3]. Global Rare Metals Market Trends - The global rare metals market is expected to continue its upward trend through 2026, with prices for rare earths, lithium, tungsten, cobalt, and nickel on the rise. This surge is attributed to three main factors: changes in global macroeconomic conditions, tightening supply constraints, and structural growth in demand from emerging industries [4][5]. Supply and Demand Dynamics - Supply constraints are a key driver of the current market dynamics, with countries like Indonesia and Vietnam implementing significant restrictions on exports of nickel and rare earths, respectively. China's export controls on certain rare metals further solidify its dominant position in global supply [4][6]. On the demand side, sectors such as electric vehicles, energy storage, and advanced manufacturing are driving robust demand for rare metals, indicating a structural growth trend [5][6].

Core Viewpoint - Recent price increase themes have emerged in the market, particularly in small metals, dyes, and electronic fabrics, leading to significant gains in related sectors such as non-ferrous metals and chemicals [1] Small Metals - The small metals sector saw substantial gains, with companies like Zhangyuan Tungsten Industry, Xianglu Tungsten Industry, and Jintan Tungsten Co. experiencing notable stock price increases [3] - Specific price increases for tungsten products were reported, with prices for praseodymium-neodymium oxide and neodymium metal rising by approximately 50,000 yuan/ton, and ammonium paratungstate (APT) reaching 1 million yuan/ton, reflecting a 49.3% increase since the beginning of the year [5][6] Dyes - The dye sector also experienced significant stock price increases, with companies such as Cihua Co. and Huatai seeing their stock prices rise by over 10% [6][8] - Zhejiang Longsheng announced a price increase for certain disperse dyes due to rising raw material costs, with prices increasing by approximately 5,000 yuan/ton [9] Electronic Fabrics - The electronic fabric sector saw a surge, with International Composite Materials hitting a 20% limit up, and companies like China Jushi and Honghe Technology also reaching their price limits [1][9] - A report from Huatai Securities indicated that leading fiberglass companies have raised prices for electronic fabrics, reflecting a trend of supply constraints and increasing demand, particularly for high-end electronic fabrics [9][10]

Core Viewpoint - Recent price increase themes have emerged in the market, particularly in small metals, dyes, and electronic cloth, leading to significant gains in related sectors such as non-ferrous metals and chemicals [1] Group 1: Small Metals - The small metals sector saw substantial gains, with companies like Zhangyuan Tungsten Industry, Xianglu Tungsten Industry, and Jintan Co. experiencing notable stock price increases [3] - Specific price increases for tungsten products were reported, with prices for 65% black tungsten concentrate rising by 48.9% and 65% white tungsten concentrate by 49.0% since the beginning of the year [5] - The market for tungsten is facing supply constraints, with expectations of increased demand post-Spring Festival, leading to improved short-term transaction volumes [6] Group 2: Dyes - The dye sector also experienced significant stock price increases, with companies like Vine Chemical and Huatai Group seeing notable gains [8] - Zhejiang Longsheng announced price hikes for certain disperse dyes due to rising costs of reducing agents, with prices increasing by approximately 5,000 yuan per ton [9] Group 3: Electronic Cloth - The electronic cloth sector saw a surge, with International Composite Materials hitting a 20% price increase limit, and companies like China Jushi and Honghe Technology also reaching their price limits [9] - A report indicated that leading fiberglass companies have raised prices for electronic cloth, reflecting a trend of supply constraints spreading from high-end to regular products [9][10] - The demand for high-end electronic cloth is expected to grow due to increased requirements for low dielectric constant and low thermal expansion coefficient materials in AI servers and high-frequency circuit boards [10]