[Research Report] the supply and demand pattern of electronic copper foil is better than that of lithium battery foil, and high-end products are still in short supply

According to CCFA, China's copper foil output in 2019 was about 437000 tons, of which lithium electrolytic copper foil accounted for about 31.8%, electronic electrolytic copper foil for about 66.6% and calendered copper foil for about 1.6%. China's lithium battery copper foil capacity tends to be surplus, with a capacity utilization rate of about 65% in 2019; In 2019, the capacity utilization rate of electronic copper foil was about 90%, and the supply and demand pattern was more healthy. (source: Huatai Securities)

[Research Report] Guojin Securities: the epidemic does not change the long-term certainty of high-end lithium battery copper foil

According to the Research Report of Guojin securities, the epidemic does not change the long-term trend of the demand growth of new energy vehicles, and China is the first to recover from the epidemic. With the national policy determination to increase new infrastructure, the demand growth of new energy vehicles in China is very worthy of expectation. At the same time, there is no lack of bright spots in the sales of new energy vehicles in European countries in the first quarter, which shows that the logic of the long-term growth of the demand for new energy vehicles is stable, In the long run, the supply and demand pattern of high-end lithium battery copper foil, the core component of new energy vehicle power battery, is good, especially 6 μ M copper foil enterprises have good medium and long-term configuration value. (source: Securities Times)

[Research Report] Jiayuan technology, June 2020 μ Copper foil sales of M and below may exceed 16000 tons

Jiayuan Technology (688388) achieved 17278.68 tons of new energy battery copper foil sales in 2019, a year-on-year increase of 18.00%. Of which, 6 μ The sales volume of extremely thin lithium battery copper foil of M and below reached 11133.57 tons, with a year-on-year growth rate of 362.52%, 6 μ The sales volume above M was 6145.11 tons, a year-on-year decrease of 49.78%, and the production capacity accelerated to 6 μ The field of extremely thin copper foil of M and below is concentrated, and the overall revenue of Ningde era accounts for 67.86%. The advantages of collaborative innovation and batch supply with Ningde era have been further strengthened. Looking forward to the future: with the obvious capacity bottleneck in 2020, Jiayuan technology is expected to further concentrate its limited capacity to meet 6 μ Strong demand for ultra thin lithium battery copper foil of M and below, 8 μ The gross profit of customized copper foil above M is high, and it is expected to maintain a certain production and sales. After calculation, Huaxi Securities judged that: June 2020 μ The sales volume of copper foil of M and below was 16007.55 tons, with a corresponding growth rate of 43.78%, 6 μ The sales volume of copper foil above M is 5000 tons. (source: West China Securities)

[data] the import volume of copper mines in China reached 21.99 million tons in 2019

Copper mine is the most important source of copper extraction. According to the statistical data released by the General Administration of customs, China's copper import volume in 2019 reached 21.99 million tons, with an import value equivalent to 233.7 billion yuan. According to the data of ITC (International Trade Center), a joint jurisdiction of the United Nations and WTO, China's copper imports currently account for more than 50% of the global copper trade.

In actual industrial production, due to the low copper content of primary copper ore, it is necessary to concentrate by flotation or other methods to form copper concentrate for copper smelting. At present, the national standard of copper concentrate implemented in China is ys/t 318-2007, which requires that the copper content of copper concentrate should not be less than 13% based on quality. (source: issued by customs)

[think tank circle] lithium copper foil: short-term pressure and long-term prosperity

From the recent research reports released by several securities companies, the general view is that the lithium battery copper foil field is under pressure in the short term and prosperous in the long term. In addition, the production of high value-added differentiated products is the key to corporate profitability. In the field of power batteries, lithium copper foil is growing from 8 μ M direction 6 μ M switching, some leading enterprises have also started trial production of 4.5 μ m. The trend of ultra-thin is prominent.

Article source:Battery net