A shares favor rare metals for the following reasons: policy reserves, resulting in reduced supply; High growth in the future, but less reserves; There is abundant liquidity in the financial crisis, so choose a speculation point similar to gold to overcome inflation.

The following is a detailed introduction. 、:

Take tin for example. 2011February 15, LME market, 3-month tin metal

The price reached an all-time high of $32,575/ton, but in March 2009, the price was only about $654.38+$00,000/ton. Since 20 10, the range of LME tin 03(3-month tin futures) has increased by more than 80%.

In contrast, the price of base metals is relatively small. For example, LME copper 03 rose by 27%, while LME aluminum 03 rose by only 10%. In the past 12 months, most other rare metals rose more and fell less. For example, at present, the spot price of antimony in the mainland market is 88,000 yuan/ton, which has increased by nearly 100% in the past two months. Tantalum, picks and tungsten also increased by 190%, 68.5% and 53.2% respectively.

Accordingly, from the end of 20 10, the state plans to store and store rare metals such as rare earth, tungsten, antimony, molybdenum, tin, indium, germanium, gallium, tantalum and zirconium.

20 10 countries reduce rare earth export quotas and start industry integration, resulting in a surging market for rare earth permanent magnet plates in the A-share market, which has created

Waiting for a pile of bull stocks, the market is looking for the next rare earth permanent magnet, and the target is rare metals.

Ensuring strategic resources and controlling the pricing power of rare metals will be the main line for China to rectify the exploitation and export of rare metals. Taking this as a starting point, we are looking for the listing of A-share rare metal resources.

And re-evaluate it, which is a path of value discovery.

The P/E ratio is relatively high, but we don't think it can be simply measured by P/E ratio, but also depends on the sensitivity of resource possession and performance to metal prices. Other companies, without resources, are only in the processing link of the industrial chain and need special appraisal. A person in charge of a private equity investment research in Shanghai said.

After the end of the rare earth defense war, many rare metals, including molybdenum and tungsten, will face policy integration.

Since 20 10, the rare metal integration and export policies at the level of central ministries and commissions have been intensively introduced.

In March of 20 10, the Ministry of Land and Resources issued the Notice on the Total Mining Control Index of Tungsten Antimony Mine and Rare Earth Mine in 20 10, and two months later, it issued the Action Plan for Special Renovation of the Development Order of Rare Earth Minerals, involving rare metals such as rare earth, tungsten, tin, antimony and molybdenum.

In July of 20 10, the Ministry of Commerce announced the second batch of export quotas of rare earth general trade in 20 10, and the annual quota decreased by 39.52% year-on-year, which subsequently triggered the outbreak of rare earth permanent magnet plates.

. In June+10/October, 5438, the Ministry of Commerce issued 20 1 1 total export quotas for agricultural products and industrial products, restricting rare metals including tungsten, tin, antimony, molybdenum, indium and magnesium.

The price of rare metals in the market follows a round of market. According to the data provided by Tianjin Rare Metals Trading Market, the market price of 0# antimony ingot in February 1 China was 93,000-94,000 yuan/ton, and it was 84,500-85,000 yuan/ton at the beginning of the year. Similarly, the contract price of indium was around 3,200 yuan/kg in March, while it was close to 5,000 yuan/kg in June last year, and the contract price of indium in June has reached 5,800 yuan/kg. In addition, metal germanium recently hit the highest price of 8600 yuan/kg since 65438+February last year, with an increase of about 6% this year.

Behind the frequent policies is the control of the pricing power of rare metals at the national level.

Take antimony mine as an example, according to the US Geological Survey

At present, the antimony production capacity in China is about 6.5438+0.5 million tons, while the global production capacity is only 6.5438+0.65 million tons, with China accounting for 9.65438+0%. But in terms of reserves, China's reserves are only 790,000 tons, while the global reserves are 265,438+10,000 tons, and China only accounts for 38%. The same is true of tungsten. China accounts for 75% of the world's tungsten production capacity and only 60% of its reserves. What is even more worrying is that some rare metals have reached the mining limit. According to the data of USGS, the service life of resources in China is only 5.3 years, while that in the world is only 12.7 years. The global resource guarantee years of indium, tin, molybdenum, tungsten and germanium are 20 years, 28.82 years, 40.6 years, 54.9 years and 6 1.4 years respectively, and China has contributed most of the global production capacity for these rare metals.

In order to purchase and store ten kinds of rare metals in a planned way, ethnic groups

The research report shows that, on the one hand, China is rich in these ten rare metals; On the other hand, these rare metals should be used in aerospace, national defense, military industry and other high-tech fields, such as the irreplaceable role of tantalum in high-end electronic products and its application in aerospace and military industry.

The EU has taken the lead in paying attention to rare metals.

On June 17 last year, the European Commission released the report "Raw materials of vital importance to the EU", and put forward the early warning and countermeasures for the shortage of rare mineral raw materials in the EU. The list of scarce mineral raw materials includes antimony, beryllium, cobalt, fluorite, gallium, germanium, graphite, indium, magnesium, niobium, platinum group metals and rare earths (including scandium, yttrium and lanthanide elements * * * 66. These raw materials are widely used in the manufacturing process of mobile phones, lithium batteries, optical cables and solar panels, and become many high-tech products and daily life.

An indispensable part of the product. Emerging industries, including power batteries and thin-film solar energy, as well as aerospace and military industries, will be the main areas of rare metal applications in the future.

In this field, nuclear-grade zirconium material is one of the key materials of nuclear power plant core structure. With the vigorous development of nuclear power in China, the demand for nuclear-grade zirconium materials is also increasing. Solar cells are mainly silicon crystal cells, and the industrialization of other solar cells, such as copper indium gallium selenide thin film solar cells and germanium crystal cells, is also being studied and promoted.

The rapid development of lithium battery in the field of power electromagnetism further reflects the scarcity of its resources.

The proportion of lithium in the earth's crust is about 0.0065%, and its abundance ranks 27th among various elements. The total reserve of lithium in seawater is 260 billion tons, but its concentration is too small to be extracted.