Resources Stock Closing ---- July 21
On July 21, most domestic commodity futures markets closed down. The main contract for lithium carbonate fell by more than 12% on the first day of listing, and contracts for other months fell to a standstill. Most agricultural products fell; red dates fell by more than 3% and rapeseed meal fell by more than 2%; most energy chemicals fell, and glass fell by more than 2%; black products had mixed ups and downs, with hot coking, rebar, and stainless steel rising by more than 1%, and coking coal falling by nearly 1%; and most basic metals.
$SSIF DCE Iron Ore Futures Index ETF (03047.HK)$
Iron ore news:
Mike Henry (Mike Henry), CEO of BHP Billiton, said, “BHP Billiton's fourth quarter performance continued to be strong, and the annual output of its assets increased. In particular, the Western Australian iron ore, Olympic dam, and Spencer copper production all hit new annual highs. BHP Billiton's asset portfolio will continue to focus on the raw materials needed to manufacture high-quality steel and future commodity growth options. Canada's Jansen potash project is still ahead of schedule, and research on the second phase of the project continues to advance. “This year, BHP Billiton made strategic investments in copper and nickel deposits around the world and made significant progress in exploration, including Kabanga in Tanzania, Oak Dam in Australia, Filo Mining and Filo del Sol projects in Argentina and Chile, and Ocelot in the US and Serbia and Peru.”
Iron ore news:
Mike Henry (Mike Henry), CEO of BHP Billiton, said, “BHP Billiton's fourth quarter performance continued to be strong, and the annual output of its assets increased. In particular, the Western Australian iron ore, Olympic dam, and Spencer copper production all hit new annual highs. BHP Billiton's asset portfolio will continue to focus on the raw materials needed to manufacture high-quality steel and future commodity growth options. Canada's Jansen potash project is still ahead of schedule, and research on the second phase of the project continues to advance. “This year, BHP Billiton made strategic investments in copper and nickel deposits around the world and made significant progress in exploration, including Kabanga in Tanzania, Oak Dam in Australia, Filo Mining and Filo del Sol projects in Argentina and Chile, and Ocelot in the US and Serbia and Peru.”
Offer update:
Mountain Stock Iron Ore (3047.HK) closed at HK$18.01, down -0.5%
Cumulative return: 1 week: 1.87% January: 5.94% March: 11.59% June: 4.22% Since listing: 141.74%
Status of the Hong Kong Resources Stock:
Haitong International believes that the short-term rebound in lithium prices is not a reversal, but rather a long-term bearish trend. Mainly due to supply-side increases, refineries currently have high inventories and have returned to the cost curve over the long term. Since last year, the price of lithium carbonate has risen all the way to 600,000 yuan/ton, and since the end of November, it has experienced a sharp decline. The price of lithium carbonate fell to a low level of 180,000 yuan/ton at the end of April, then experienced a wave of rebound. At one point, it rebounded to the 300,000 yuan/ton mark, and stabilized at this level. In order to stabilize the price of this key raw material for lithium batteries, the market was also looking forward to the launch of lithium carbonate futures. Previously, a number of listed companies have applied to Guangji to designate lithium carbonate warehouses to enhance the company's core competitiveness, including Yongxing Materials, Ganfeng Lithium, Jiangte Electric, and Shengxin Lithium Energy.
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3047 is a team specializing in the research of commodities and smart beta. We like to exchange investment strategies.
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