碳酸锶-政策限制叠加供给波动-价格或将延续上行趋势

Key Points Industry Overview 1. Industry: Carbonate Strontium 2. Market Price: As of 2024, the average price of 98% carbonate strontium in China was 150,000 yuan per ton, up 500 yuan/ton from January 10 and 1,000 yuan/ton from the beginning of the year, representing a 7.1% increase. 3. Supply and Demand: The price increase is primarily due to supply-side fluctuations and policy restrictions, leading to a tight supply and demand situation. 4. Applications: Carbonate strontium is mainly used in magnetic materials, liquid crystal glass substrates, metal smelting, and other private salt deep processing fields. 5. Market Size: As of the end of 2023, the total production capacity of carbonate strontium in China was about 205,000 tons. The industry is highly concentrated, with Hebei Xin Qi Chemical having a capacity of about 60,000 tons, accounting for 29.27% of the total. 6. Imports and Exports: In 2023, China's imports of carbonate strontium were about 22,000 tons, up 53% year-on-year, and exports were about 3,600 tons, up 74% year-on-year. 7. Policy Impact: Environmental protection policies require the elimination of outdated production processes, which has limited existing and new production capacity. Some enterprises have shut down, leading to an operating rate of less than 40%. 8. Price Trend: Since the 36th week of 2023, carbonate strontium prices have been on the rise and are expected to continue rising in the future, mainly affected by supply-side contraction. Risks and Opportunities 1. Risk Factors: Investors should pay attention to changes in downstream demand, fluctuations in raw material prices, the progress of industry process transformation, and the progress of new production capacity. 2. Opportunities: It is recommended to pay attention to companies with normal production status and a layout of carbonate lithium.