Why Cobalt Became the Leader in the Lithium Battery Industry?
2017-07-24
Recently, coal, nonferrous metals stocks cycle as the representative of the sudden appearance of a strong rebound. This rally is sustainable, what is the logic of their investment? Remember at the beginning of the month, we from the business cycle perspective, points out the non-ferrous stocks investment opportunities to everyone,has more than 4 yuan from rising to 7.5 yuan, has been to let investment investment in pharmaceutical stocks mainly depressed students received some relief.
The investment logic of Luoyang molybdenum industry is because he bought a ranking second in the world right now: in June 2017, the company's non-public offering of stock shares to Chinese CSRC approval, after adjustment, the company intends to not less than 3.12 yuan / share non-public offering of not more than 5 billion 769 million shares, raising total assets of not more than 18 billion yuan, the acquisition of Congo copper cobalt (gold), asset acquisitions ($8 billion 500 million). Congo (gold) copper, cobalt asset acquisition goal for FCX's fmdrc100% equity, it indirectly holds in Congo (DRC) within the tfm56% stake, TFM has tenke fungurume mining area is the worldwide largest reserves, the highest grade of copper. One of these acquisitions. Cobalt mineral resources in the non-public offering of shares for the successful implementation of the premise, if the non-public offering of stock to the successful implementation of the company will continue to self financing payment transactions on the price of the asset purchase program.
Cobalt is mainly used for cathode materials of lithium battery three yuan, can significantly enhance the energy density of lithium battery. May investors believe that a small cathode material, and the so-called three yuan materials (nickel cobalt lithium manganate Li (NiCoMn) O2), is a compound of lithium manganese nickel three substances, can make more money than the the production of lithium batteries, Tianqi lithium industry?
It depends on the cost of cobalt and cobalt resources reserves accounted for the proportion of lithium battery prices and China and consumption. China cobalt reserves of about 80 thousand tons, accounting for 1.8% of the world's proven reserves, mining and distribution is extremely dispersed. China's consumption of the whole world. More than 30% of the world cobalt cobalt reserves most Luoyang is the acquisition of Congo gold molybdenum industry, the total reserves of 48%, the annual production of Congo gold cobalt metal volume of 60 thousand tons, accounting for about 60% of global production of cobalt, close to the total reserves of China.
How much is three yuan materials for lithium batteries cost? An estimated 1 tons of lithium cobaltate, lithium content of only 0.07 tons, but the cobalt content will reach 0.61 tons, is 8 times more than the lithium cobalt. However, the content in the crust is only 1/6 years of lithium, cobalt ore mining is only half lithium. capacitance 43kwh, the price of 230 thousand yuan, the capacity of 40kwh electric vehicle can take the price of 200 thousand yuan, 30kwh new energy automobile consumption demand for cobalt 7.54kg cobalt car 40kwh can reach 10.05kg. per the new energy automotive industry gross margin of approximately 25%, the cost is estimated to be about 150 thousand yuan. The cost of the battery is about 1400 yuan /kwh, a total of 56000 yuan, accounted for 37% of the cost, other cost is 94000 yuan. This year, the end of March, four three 390 thousand yuan per ton of cobalt oxide, cobalt acid lithium 4.35v price per ton 415 thousand yuan; three yuan. (523) the price is 195 thousand yuan per ton. We can roughly estimate the cost ratio of cobalt in the lithium battery
Issued by Miss Geng, HRD, Jul. 24, 2017.
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