金属 新材料周报：地产政策刺激叠加库存去化铝价持续上行

有色金属/有色金属/行业投资策略周报/2023.09.03投资评级投资评级:看好(维持)有色金属沪深300%-2%分析师田源ianyuanctseccom分析师田庆争tianqzctseccom联系人陈轩nxuanctseccom价有望底部回升》2023-08-272.《美国零售数据大超预期，金价短期2023-08-20I 核心核心观点❖核心观点：贵金属方面，美国经济和就业持续降温，金价持续回升。工业金属方面，铜-国内地产政策宽松，铜价上行。铝-地产政策刺激叠加库存去化，铝价持续上行。能源金属方面，锂-供强需弱，锂盐价格持续下跌。钴-下游需求疲弱，价格承压下行。稀土-下游询单采购增加，稀土价格上行。❖贵金属：美国经济和就业持续降温，金价持续回升。伦敦现货金周度涨1.31%至1940.55美元/盎司，SHFE金周度涨0.58%至461.84元/克。本周美国出炉了较多重要的经济和就业数据，包括美国二季度GDP和核心PCE物价指数修正值低于预期，同时美国7月非农数据大幅下修，8月非农数据虽略超预期但仍处于地位，失业率为3.8%超预期且创新高，这些数据都表明美国经济和就回升。❖工业金属：地产政策组合拳持续出击，工业金属需求有望回升。本周地产宽松政策持续落地，广深上海先后施行“认房不认贷”，同时规定全国首套房和二套房首付比例下限分别为20%/30%，具体比例因城施策，同时首套住房贷款可申请贷款置换，这一系列宽松政策表现出国家对解决房地产问题的态度和决心，地产政策刺激下房地产竣工持续向好，工业金属需求有望回升。铜-国内地产政策宽松，铜价上行。LME/SHFE铜周度跌0.42%/涨0.93%至8380/69470美元/吨。宏观方面，国内地产政策组合拳持续出击，地产竣工有望持续向好，工业金属需求有望回升，铜价上行。供给方面，据SMM统计，2023年二季度十五家矿企铜产量为297.1万金属吨，环比增加16.1万金属吨。需求方面，本周国内主要精铜杆企业周度开工率68.97%，环比回升0.26%。慎。铝-地产政策刺激叠加库存去化，铝价持续上行。LME/SHFE铝周度涨1.99%/3.48%至2203/19190(美)元/吨。供给方面，云南电解铝企业复产产能全部释放完毕，后续供给边际增量有限。需求方面，本周国内铝下游加工龙头企业开工率环比上周小幅下滑0.1pct至63.5%，与去年同期相比下降2.6pct。库存方面，全国电解铝现货库存为49.3万吨，同比减少0.20%，沪铝库存9万吨，同比降低8.67%。伴随地产政策刺激和金九银十旺季到来，铝需求端有望升。升❖能源金属：锂-供强需弱，锂盐价格持续下跌。碳酸锂价格周度跌7.85%至20.55万元/吨。广期所碳酸锂2401收盘价18.68万元/吨，环比上周跌3.86%。供给厂及自有矿权企业多保持稳定生产；个别小厂由于原料纯碱短缺，以及利润压缩甚至成本倒挂，同时库存积压，出货压力增加，有个别企业减产停产。需求方面，本周碳酸锂市场需求低迷，成交量一般。钴-下游需求疲弱，价格承压谨请参阅尾页重要声明及财通证券股票和行业评级标准2下行。硫酸钴/四钴价格周度跌0.70%/3.39%至3.53/14.25万元/吨。供给方面，本周四钴和硫酸钴产量下降，开工率下滑。需求方面，四钴下游需求持续低迷，拿货积极性减弱，储能订单下滑。硫酸钴下游前驱体交投氛围相对冷清，企业多按当前订单维持生产，三元材料企业有观望情绪，需求端跟进有限。稀土-下游询单采购增加，稀土价格上行。氧化镨/氧化钕周度价格持平/涨0.49%至50.70/51万元/吨，氧化铽/氧化镝周度涨1.89%/1.84%至810/249.5万元/吨。镨钕报价上涨，场内现货紧张，厂家报价坚挺上调，贸易商心态积极，市场情绪高涨，下游采购增加，成交价格逐渐攀升，低价现货难寻。镝铽受缅甸矿出口管制及龙南地区环保政策影响上涨。❖相关标的：贵金属—山东黄金、银泰黄金；工业金属—紫金矿业、天山铝业、云铝股份；锂—天齐锂业、赣锋锂业、中矿资源；金属加工—海亮股份；小金属—厦门钨业。风险提示：下游复产不及预期风险；国内房地产需求不振的风险；美联储加息幅度超预期风险；新能源汽车增速不及预期风险；海外地缘政治风险。表1：重点公司投资评级:公司(亿元)(09.01)2A3E4E2A3E4E7.252.347500.13.26.48.059803290766160锋锂业57.493865.520337.839厦门钨业48.94谨请参阅尾页重要声明及财通证券股票和行业评级标准3 元/盎司-元/克) 10谨请参阅尾页重要声明及财通证券股票和行业评级标准4元/盎司-元/克) 10司) 10司) 10吨-元/吨) 12) 12 /吨) 12 2吨-元/吨) 13) 13 /吨) 13) 13吨-元/吨) 14 吨-元/吨) 14 14(元/吨) 14吨-元/吨) 15 吨-元/吨) 15 ) 15企业毛利(元/吨) 15图34.碳酸锂价格走势(元/吨) 17/吨) 17/吨) 17图37.碳酸锂企业毛利(元/吨) 17 图39.金属钴价格走势(美元/磅) 18谨请参阅尾页重要声明及财通证券股票和行业评级标准5图40.硫酸钴价格走势(万元/吨) 18走势(万元/吨) 18万元/吨) 18金原料的钴企毛利(万元/吨) 18图44.硫酸锰价格走势(万元/吨) 19图45.硫酸镍价格走势(万元/吨) 19图46.硫酸镍相对金属镍溢价走势(万元/吨) 19图47.硫酸镍相对镍铁溢价走势(万元/吨) 19) 20 20) 20 0) 20 20 21) 21 精矿价格走势(元/吨-万元/吨) 22精矿价格走势(元/千克-元/吨) 22图60.镁锭及锑精矿价格走势(元/吨) 22图61.锗锭及铟锭价格走势(元/千克) 22 谨请参阅尾页重要声明及财通证券股票和行业评级标准61核心观点万通胀有望持续回落，金属列宽松政策表现出国家对解决房地产问题的态度和决心，地产政策刺激下房地产FE谨请参阅尾页重要声明及财通证券股票和行业评级标准7月末消费转弱，下游采购意愿不强，下单谨慎。铝方面，地产政策刺激叠加库存去化，铝价持续上行。LME/SHFE铝周度涨方面，云南电解铝企业复产产能全部金属炼端大厂及自有矿权企业多保持稳定生产；个别小厂由于原料纯碱短缺，以及利有限。管制及龙南地区环保政策影响上涨。谨请参阅尾页重要声明及财通证券股票和行业评级标准8材。指数本周指数周涨幅(%)月涨幅(%)年涨幅(%)5,400.485,400.487.006.005.004.003.002.001.000.001.00(%)3.35%)周涨幅前十 (%)-2.00-4.00-6.00-8.00-10.00-12.00 谨请参阅尾页重要声明及财通证券股票和行业评级标准9动动302021-09-022021-10-02-022021-12-022022-012021-09-022021-10-02-022021-12-022022-01-022022-02-022022-03-022022-04-022022-05-022022-06-022022-07-022022-08-022022-09-022022-10-02-022022-12-022023-01-022023-02-022023-03-022023-04-022023-05-022023-06-022023-07-022023-08-0245.0040.0035.0030.0025.0020.00005.000.00图5.申万有色与万得全APB(LF)估值走势2021-09-022021-10-022021-2021-09-022021-10-022021-12-022022-01-022022-02-022022-03-022022-04-022022-05-022022-06-022022-07-022022-08-022022-09-022022-10-022022-12-022023-01-022023-02-022023-03-022023-04-022023-05-022023-06-022023-07-022023-08-025.004.504.003.503.002.502.000.500.00谨请参阅尾页重要声明及财通证券股票和行业评级标准10480.00460.00440.00420.00400.00380.00360.00340.00320.00300.00表表3.贵金属价格变动品种市场单位价格本周变动本月变动年初至今伦敦现货伦敦现货伦敦现货伦敦现货1.846558%2.66%%2.92%图图6.黄金价格走势(美元/盎司-元/克)伦敦现货黄金:以美元计价(左轴)期货结算价(活跃合约):黄金(右轴)2,100.002,000.001,900.001,800.001,700.001,600.001,500.001,400.002021-06-152021-06-152021-07-152021-08-152021-09-152021-10-152021-11-152021-12-152022-01-152022-02-152022-03-152022-04-152022-05-152022-06-152022-07-152022-08-152022-09-152022-10-152022-11-152022-12-152023-01-152023-02-152023-03-152023-04-152023-05-152023-06-152023-07-152023-08-15图7.白银价格走势(美元/盎伦敦现货白银:以美元计价(左轴)期货结算价(活跃合约):白银(右轴)2021-06-1522021-07-1522021-08-1522021-09-1522021-10-1522021-11-1522021-12-1522022-01-152022-02-152022-02-152022-03-1522022-04-1522022-05-1522022-06-152022-07-152022-07-15202220220815--2022-09-152022-10-152022-11-152022-12-152023-01-152023-02-152023-03-152023-04-152023-05-152023-06-152023-07-152023-08-15图图8.钯金价格走势(美元/盎司)图9.铂金价格走势(美元/盎司)谨请参阅尾页重要声明及财通证券股票和行业评级标准114工业金属表4.工业金属价格、库存及盈利变动伦铜价格伦铜库存铜铝铅锌锡镍单冶炼费炼毛利铝价格铝价格铝库存铝库存现货库存伦铅价格伦铅库存伦锌价格伦锌库存加工费企毛利炼毛利锡价格锡价格锡库存锡库存镍价格镍价格镍库存沪镍库存镍铁(10-15%)吨吨吨吨吨吨吨吨吨吨价格/库存591-3908398088518165.5005650503%-0%0%50%%2.63%2.83%0%7%2.99%27.56%1%6%-4.52%0%3%4.63%2.68%20.76%%.83%谨请参阅尾页重要声明及财通证券股票和行业评级标准12图10.铜价格走势(美元/吨-元/吨)111伦铜(左轴)沪铜(右轴)80,00075,00070,00065,00060,00055,00050,00045,00040,00035,000图11.铜冶炼加工费(美元/吨)TC&RC0454050252021-06-242021-07-242021-08-242021-09-242021-10-242021-12-242022-01-242022-02-242022-03-242022-04-242022-05-242022-06-242022-07-242022-08-242022-09-242022-10-242022-12-242023-01-242023-02-242023-03-242023-04-242023-05-242023-06-242023-07-242023-08-24图12.LME铜库存(吨)伦铜库存伦铜库存图13.上期所铜库存(吨)沪铜库存300000250000200000150000100000500000图14.副产硫酸价格走势(元/吨)925825725625525425325225252021/9/22021/10/22021/11/22021/12/22022/1/22022/2/22022/3/22022/4/22022/5/22022/6/22022/7/22022/8/22022/9/22022/10/22021/9/22021/10/22021/11/22021/12/22022/1/22022/2/22022/3/22022/4/22022/5/22022/6/22022/7/22022/8/22022/9/22022/10/22022/11/22022/12/22023/1/22023/2/22023/3/22023/4/22023/5/22023/6/22023/7/22023/8/2图图15.铜冶炼毛利(元/吨)谨请参阅尾页重要声明及财通证券股票和行业评级标准13 图17.氧化铝价格走势(元/吨)1-09-271-10-271-09-271-10-271-11-272-03-272-04-272-05-272-09-272-10-272-11-273-04-273-05-27图18.伦铝库存(吨)70.0060.0050.0040.0030.0020.0010.000.00伦铝库存(左轴)图19.沪铝库存(吨)图20.预焙阳极价格走势(元/吨)2021-08-272021-09-272021-10-272021-08-272021-09-272021-10-272021-12-272022-01-272022-02-272022-03-272022-04-272022-05-272022-06-272022-07-272022-08-272022-09-272022-10-272022-12-272023-01-272023-02-272023-03-272023-04-272023-05-272023-06-272023-07-272023-08-2790008000700060005000400030002000图21.电解铝行业毛利(元/吨)谨请参阅尾页重要声明及财通证券股票和行业评级标准142021-08-312021-09-302021-10-312021-11-302021-12-312022-01-312022-02-282022-03-312022-04-302022-05-312022-06-302021-08-312021-09-302021-10-312021-11-302021-12-312022-01-312022-02-282022-03-312022-04-302022-05-312022-06-302022-07-312022-08-312022-09-302022-10-312022-11-302022-12-312023-01-312023-02-282023-03-312023-04-302023-05-312023-06-302023-07-312023-08-31图22.铅价格走势(美元/吨-元/吨)图24.锌价格走势(美元/吨-元/吨)5000002,5002,0006,0004,0002,000图23.铅期货库存(吨).锌期货库存 数据来源：wind，财通证券研究所图26.锌冶炼加工费(元/吨)2021-08-312021-09-302021-10-312021-11-32021-08-312021-09-302021-10-312021-11-302021-12-312022-01-312022-02-282022-03-312022-04-302022-05-312022-06-302022-07-312022-08-312022-09-302022-10-312022-11-302022-12-312023-01-312023-02-282023-03-312023-04-302023-05-312023-06-302023-07-312023-08-316,0005,0004,0003,0002,0001,0000图图27.锌矿企及冶炼毛利润(元/吨)00矿企利润(元/吨)冶炼毛利润(元/吨)00000000006000400020000谨请参阅尾页重要声明及财通证券股票和行业评级标准152021-08-272021-09-272021-10-272021-11-272021-12-272022-01-272022-02-272022-03-27202021-08-272021-09-272021-10-272021-11-272021-12-272022-01-272022-02-272022-03-272022-04-272022-05-272022-06-272022-07-272022-08-272022-09-272022-10-272022-11-272022-12-272023-01-272023-02-272023-03-272023-04-272023-05-272023-06-272023-07-272023-08-27120001000080006000400020000图28.锡价格走势(美元/吨-元/吨)55,00050,00045,00040,00035,00030,00025,00020,0005,0000,0002021-09-012021-10-012021-12-012021-09-012021-10-012021-12-012022-01-012022-02-012022-03-012022-04-012022-05-012022-06-012022-07-012022-08-012022-09-012022-10-012022-12-012023-01-012023-02-012023-03-012023-04-012023-05-012023-06-012023-07-012023-08-012023-09-01400,000350,000300,000250,000200,000150,000100,00050,000图30.镍价格走势(美元/吨-元/吨)图32.镍铁价格走势(元/镍点)镍铁(10-15%)1,7001,6001,5001,4001,3001,2001,1001,0009008002021-08-312021-09-302021-10-312021-11-302021-12-312022-01-312022-02-282022-03-312022-04-302022-05-312022-06-302022-07-312022-08-312022-09-302022-10-312022-11-302022-12-312023-01-312023-02-282023-03-312023-04-302023-05-312023-06-302023-07-312023-08-31图图29.期货锡库存(吨)70006000500040003000200000002021-08-262021-09-262021-10-262021-12-262021-08-262021-09-262021-10-262021-12-262022-01-262022-02-262022-03-262022-04-262022-05-262022-06-262022-07-262022-08-262022-09-262022-10-262022-12-262023-01-262023-02-262023-03-262023-04-262023-05-262023-06-262023-07-262023-08-26图图31.期货镍库存(吨)伦镍库存(左轴)沪镍库存(右轴)10000210000900080002800070006000600050004000100000400030002000520001000000 0000000000040,000000,00000022021-08-312021-02021-09-302021-10-312021-10-31国内镍铁盈利2022-09-302022-10-312022-12-312022-09-302022-10-312022-12-312023-01-312023-02-282023-03-312023-04-302023-05-312023-06-302023-07-312023-08-312021-12-312022-01-312022-02-282022-03-312022-04-302022-05-312022-06-302022-07-312022-08-31谨请参阅尾页重要声明及财通证券股票和行业评级标准165能源金属5.能源金属价格走势及盈利&价差变化碳酸锂元/吨辉石碳酸锂毛利金属钴硫酸钴硫酸锰硫酸镍硫酸镍相对金属镍溢价硫酸镍相对镍铁溢价磷酸铁磷酸铁锂%%%%0%0%0%0%.29%0%%0%0%0%0%0%0%0%0%6%0%0%0%0%格550010175.5575极锂钴谨请参阅尾页重要声明及财通证券股票和行业评级标准17图34.碳酸锂价格走势(元/吨)锂600,000500,000400,000300,000200,0000,00002021-08-052021-09-052021-10-052021-12-052022-01-052022-02-052022-03-052022-04-052022-05-052022-06-052022-07-052022-08-052022-09-052022-10-052022-12-052023-01-052023-02-052023-03-052023-04-052023-05-052023-06-052023-07-052023-08-05图35.氢氧化锂价格走势(元/吨)600,000500,000400,000300,000200,00000,00002021-08-312021-09-302021-10-312021-12-312022-01-312022-02-282022-03-312022-04-302022-05-312022-06-302022-07-2021-08-312021-09-302021-10-312021-12-312022-01-312022-02-282022-03-312022-04-302022-05-312022-06-302022-07-312022-08-312022-09-302022-10-312022-12-312023-01-312023-02-282023-03-312023-04-302023-05-312023-06-302023-07-312023-08-31图36.锂辉石价格走势(美元/吨)60000004000000200002019-7-110 2020-07-10 2021-07-10 2022-07-10 2023-0 4000003500003000002500002000001500001000005000002019-07-10-50000-100000 碳酸锂毛利2021-07-102022-07-102023-07万元/吨，国内外价差扩大246.59%为-0.32万元/吨(国外-国内)。下跌0.7%至谨请参阅尾页重要声明及财通证券股票和行业评级标准18图38.MB钴价格走势(美元/磅)2021-09-082021-10-082021-09-082021-10-082021-12-082022-01-082022-02-082022-03-082022-04-082022-05-082022-06-082022-07-082022-08-082022-09-082022-10-082022-12-082023-01-082023-02-082023-03-082023-04-082023-05-082023-06-082023-07-082023-08-0845.0040.0035.0030.0025.0020.0039.金属钴价格走势(美元/磅)70.0060.0050.0040.0030.0020.000.00国外相对国内溢价(右轴)金属钴2023-04-082023-05-082023-04-082023-05-082023-06-082023-07-082023-08-0820.00.00.00-5.00-10.00--2023-02-082023-03-082021-09-082021-10-082021-12-082022-01-082022-02-082022-03-082022-04-02021-09-082021-10-082021-12-082022-01-082022-02-082022-03-082022-04-082022-05-082022-06-082022-07-082022-08-082022-09-082022-10-082022-12-0820230108图40.硫酸钴价格走势(万元/吨)0000008.006.004.002.000.002021-09-082021-10-082021-12-082022-01-082022-02-082022-03-082022-04-082022-05-082022-06-082022-07-082022-08-082022-09-082022-10-082022-12-082023-01-082023-02-082023-03-082023-04-082023-05-082023-06-082023-07-082021-09-082021-10-082021-12-082022-01-082022-02-082022-03-082022-04-082022-05-082022-06-082022-07-082022-08-082022-09-082022-10-082022-12-082023-01-082023-02-082023-03-082023-04-082023-05-082023-06-082023-07-082023-08-086.004.002.000.00-2.00-4.00-6.00-8.00-10.00-12.00(万元/吨)四钴相对金属钴溢价2022-09-082022-10-082022-12-082023-01-082023-02-082023-03-082022-09-082022-10-082022-12-082023-01-082023-02-082023-03-082023-04-082023-05-082023-06-082023-07-082023-08-08.006.004.002.00.00-2.00-4.00-6.00-8.00-10.0050.0045.0040.0035.0030.0025.0020.0015.0010.00.00.002021-09-082021-10-082021-12-082022-01-082021-09-082021-10-082021-12-082022-01-082022-02-082022-03-082022-04-082022-05-082022-06-082022-07-082022-08-08图42.国内钴冶炼厂毛利(万元/吨)000000008.006.004.002.000.00-2.002021-09-082021-10-082021-09-082021-10-082021-12-082022-01-082022-02-082022-03-082022-04-082022-05-082022-06-082022-07-082022-08-082022-09-082022-10-082022-12-082023-01-082023-02-082023-03-082023-04-082023-05-082023-06-082023-07-082023-08-08图43.拥有刚果金原料的钴企毛利(万元/吨)2021-09-082021-10-082021-09-082021-10-082021-12-082022-01-082022-02-082022-03-082022-04-082022-05-082022-06-082022-07-082022-08-082022-09-082022-10-082022-12-082023-01-082023-02-082023-03-082023-04-082023-05-082023-06-082023-07-082023-08-0840.0035.0030.0025.0020.000000谨请参阅尾页重要声明及财通证券股票和行业评级标准19图44.硫酸锰价格走势(万元/吨)2021-09-132021-10-132021-11-132021-09-132021-10-132021-11-132021-12-132022-01-132022-02-132022-03-132022-04-132022-05-132022-06-132022-07-132022-08-132022-09-132022-10-132022-11-132022-12-132023-01-132023-02-132023-03-132023-04-132023-05-132023-06-132023-07-132023-08-13.20.000.800.600.400.200.00图45.硫酸镍价格走势(万元/吨)7.006.005.004.003.002.001.000.00202120210913硫酸镍-2021-10-132021-11-132021-12-132022-01-132022-02-132022-03-132022-04-132022-05-132022-06-132022-07-132022-08-132022-09-132022-10-132022-11-132022-12-132023-01-132023-02-132023-03-132023-04-132023-05-132023-06-132023-07-132023-08-13图46.硫酸镍相对金属镍溢价走势(万元/吨)3.002.001.000.00-1.00-2.00-3.00-4.00-5.00-6.00-7.002021-09-082021-10-082021-09-082021-10-082021-12-082022-01-082022-02-082022-03-082022-04-082022-05-082022-06-082022-07-082022-08-082022-09-082022-10-082022-12-082023-01-082023-02-082023-03-082023-04-082023-05-082023-06-082023-07-082023-08-08图47.硫酸镍相对镍铁溢价走势(万元/吨)2021-09-082021-10-082021-09-082021-10-082021-12-082022-01-082022-02-082022-03-082022-04-082022-05-082022-06-082022-07-082022-08-082022-09-082022-10-082022-12-082023-01-082023-02-082023-03-082023-04-082023-05-082023-06-082023-07-082023-08-08008.006.004.002.000.00/谨请参阅尾页重要声明及财通证券股票和行业评级标准20图48.稀土精矿价格走势(万元/吨)202202109079.008.007.006.005.004.003.002.001.000.00-2021-10-072021-11-072021-12-072022-01-072022--2021-10-072021-11-072021-12-072022-01-072022-02-072022-03-072022-04-072022-05-072022-06-072022-07-072022-08-072022-09-072022-10-072022-11-072022-12-072023-01-072023-02-072023-03-072023-04-072023-05-072023-06-072023-07-072023-08-0724.0023.0022.0021.0020.0019.0018.00图49.轻稀土价格走势(万元/吨)50.中重稀土价格走势(万图51.磁材价格走势(万元/吨)图52.氧化镨钕盈利变化(万元/吨)25.0020.0015.0010.00 00 00 -5.0010.0015.0020.0025.0030.002021-09-072021-10-072021-09-072021-10-072021-12-072022-01-072022-02-072022-03-072022-04-072022-05-072022-06-072022-07-072022-08-072022-09-072022-10-072022-12-072023-01-072023-02-072023-03-072023-04-072023-05-072023-06-072023-07-072023-08-07图53.钕铁硼盈利变化(万元/吨).00.004.002.00.00-2.00-4.002021-09-072021-10-072021-09-072021-10-072021-12-072022-01-072022-02-072022-03-072022-04-072022-05-072022-06-072022-07-072022-08-072022-09-072022-10-072022-12-072023-01-072023-02-072023-03-072023-04-072023-05-072023-06-072023-07-072023-08-07谨请参阅尾页重要声明及财通证券股票和行业评级标准21图54.磷酸铁价格走势(万元/吨)3.002.502.001.501.000.500.00202120210913磷酸铁-2021-10-132021-11-132021-12-132022-01-132022-02-132022-03-132022-04-132022-05-132022-06-132022-07-132022-08-132022-09-132022-10-132022-11-132022-12-132023-01-132023-02-132023-03-132023-04-132023-05-132023-06-132023-07-132023-08-13图55.磷酸铁锂价格走势(万元/吨)20.000000000000 8.006.004.002.000.00202120210913磷酸铁锂-2021-10-132021-11-132021-12-132022-01-132022-02-132022-03-132022-04-132022-05-132022-06-132022-07-132022-08-132022-09-132022-10-132022-11-132022-12-132023-01-132023-02-132023-03-132023-04-132023-05-132023-06-132023-07-132023-08-13图56.622前驱体价格走势(万元/吨)2021-09-132021-10-132021-11-132021-12-132022-2021-09-132021-10-132021-11-132021-12-132022-01-132022-02-132022-03-132022-04-132022-05-132022-06-132022-07-132022-08-132022-09-132022-10-132022-11-132022-12-132023-01-132023-02-132023-03-132023-04-132023-05-132023-06-132023-07-132023-08-1318.0016.0014.0012.0010.008.006.00图57.622三元正极价格走势(万元/吨)45.0040.0035.0030.0025.0020.0015.0010.00 5.000.00202120210913-2021-10-132021-11-132021-12-132022-01-132022-02-132022-03-132022-04-132022-05-132022-06-132022-07-132022-08-132022-09-132022-10-132022-11-132022-12-132023-01-132023-02-132023-03-132023-04-132023-05-132023-06-132023-07-132023-08-13谨请参阅尾页重要声明及财通证券股票和行业评级标准226小金属表表6.小金属价格变动单位价格本周变动本月变动年初至今精矿精矿精矿镁锭锑精矿锗锭铟钒镉37037,60045%2.8%8%5%9%42.5%2.53%0%4.03%.89%0%9%0%0%0%.82%4%0%0%图58.钨精矿及钼精矿价格走势(元/吨-万元/吨)2021-08-252021-09-252021-10-25202021-08-252021-09-252021-10-252021-12-252022-01-252022-02-252022-03-252022-04-252022-05-252022-06-252022-07-252022-08-252022-09-252022-10-252022-12-252023-01-252023-02-252023-03-252023-04-252023-05-252023-06-252023-07-252023-08-256,5,0004,00