In the morning session, the energy metals sector rose against the trend, with the sector up 2.82% as of the time of writing. Leading stocks included Canmax Technologies, which rose over 9%, Shengxin Lithium Energy up 6.4%, Zhongkuang Resources up 5.0%, and Tengyuan Cobalt up 4.42%. Several other stocks, including Tibet Mining and Tianqi Lithium, also followed suit, showing a strong upward trend for the sector as a whole.
The core logic behind the current market speculation on the energy metals sector lies in the continuous improvement of downstream demand in the new energy industry chain, coupled with supply-side disturbances leading to a rebound in industry prosperity. On one hand, the rapid development of industries such as new energy vehicles and energy storage continues to drive market demand for energy metals like lithium, cobalt, and nickel; on the other hand, expectations of supply tightening due to capacity adjustments in some production areas and geopolitical factors are pushing energy metal prices to maintain a strong oscillating pattern, providing ample momentum for industry valuation recovery. At the same time, high prices of traditional energy further reinforce the logic of new energy substitution, attracting significant market attention to the energy metals sector.
CITIC Construction Investment Securities' research report pointed out that last week, the A-share market welcomed a recovery trend, driven by improvements in market risk appetite, liquidity, and fundamentals. Looking ahead, although the pace of increase may slow down, the market is expected to continue showing a fluctuating upward pattern in the short term, while in the medium term, attention should be paid to external risks brought by persistently high oil prices. In April this year, the market will return to fundamentals, and it is recommended to focus on the first-quarter reports to seize opportunities in prosperous industries. Industry allocation should focus on three directions: high prosperity in first-quarter reports, marginal improvement in fundamentals, and benefiting from policies + low-position allocation + seasonal prosperity. Key sectors to watch include: resource products (gold, energy metals, aluminum, minor metals), AI (optical communication, fiberglass, gas turbines), lithium batteries (batteries, lithium battery materials), oil transportation, chemical raw materials, brokerages, coal, general equipment, infrastructure commencement, and service consumption.
Zhang Yunkai, manager of the Chang'an Fund Industry Growth Mixed Fund, stated that the long-term allocation value of equity assets is becoming prominent, and they will closely monitor the industrial development cycle, laying out along the two main lines of resources and manufacturing. Sub-sectors such as energy metals are expected to welcome quality layout windows.
In addition, the China Futures Industry Association released first-quarter data showing that the new energy metals sector continued to perform strongly. The trading volume of lithium carbonate futures increased nearly 4.7 times year-on-year, with market enthusiasm continuing to rise, reflecting that related varieties in the new energy industry chain remain the focus of market attention.
Related Industries:
Lithium Resource Development: As a core raw material for power batteries and energy storage batteries in new energy vehicles, the downstream demand for lithium continues to grow with the increasing penetration rate of global new energy vehicles and the expansion of energy storage installation scale. Recently, some lithium mining areas have seen capacity adjustments, coupled with a market environment dominated by long-term locked volume transactions, leading to strong price support at the mining end. Lithium prices are oscillating strongly, and development companies with quality lithium resource reserves will directly benefit from the dual rise in volume and price.
Cobalt and Nickel Metals: Cobalt and nickel are important components of ternary lithium batteries. With the iterative promotion of high-nickel battery technology and the growing demand for long-range batteries in the energy storage market, the market demand for cobalt and nickel metals is steadily increasing. At the same time, raw material shortages provide bottom support for cobalt prices, and the overall industry maintains a pattern of oscillation and consolidation. Companies with cobalt and nickel resource reserves and large-scale smelting capabilities will fully benefit from the growth in industry demand
Battery Material Processing: Energy metals need to undergo refined processing to become core components of power batteries, such as cathode materials. With the expansion of production capacity by leading domestic battery companies and the continuous landing of overseas power battery orders, the order volume for battery material processing companies is expected to continue to grow. Companies with technological and production capacity advantages will face dual opportunities for scale expansion and performance improvement.
Industry Chain Companies:
Canmax Technologies: The company is an important player in the domestic lithium battery materials field, possessing processing capacity for energy metals such as lithium salts. Its products have stable and reliable performance, widely used in the fields of new energy vehicle power batteries and energy storage batteries, allowing it to fully benefit from the growth in downstream industry demand, with ample performance growth momentum.
Shengxin Lithium Energy: The company is engaged in the full industry chain of lithium mining and lithium salt processing, possessing high-quality lithium ore resource reserves. Its lithium salt product capacity is at the leading level in the industry, effectively hedging against market price volatility risks and fully enjoying the development dividends brought by the upward trend in the lithium industry.
Tengyuan Cobalt: One of the world's leading producers of cobalt, copper, and battery material precursor products, mainly engaged in the research, production, and sales of cobalt, copper, nickel, lithium, and battery material precursors, focusing on the development and utilization of new energy metal resources, with products covering multiple core links of the new energy industry chain.
Tianqi Lithium: The company's main business covers key stages of the lithium industry chain, including the development of hard rock lithium ore resources, production and sales of lithium concentrates, and production and sales of lithium chemical products, providing sustainable and high-quality lithium solutions for the transformation and development of clean energy, with a solid leading position in the industry

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The energy metals sector rose against the trend by 2.82% in the morning session, with Canmax Technologies once surging over 9%. The core logic behind the market speculation lies in the improving demand in the new energy industry chain and supply-side disruptions, which are driving the prices of metals such as lithium, cobalt, and nickel to remain strong. CITIC Construction Investment Securities pointed out that the risk appetite and liquidity in the A-share market have improved, and a short-term upward fluctuation is expected. It is recommended to pay attention to the first quarter reports and allocations in high prosperity industries, including resource products, AI, and lithium batteries. The trading volume of lithium carbonate futures has increased nearly 4.7 times year-on-year, indicating that market enthusiasm continues to rise

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Canmax Technologies

Energy metals surged nearly 3%! Canmax Technologies once rose over 9%, with lithium, cobalt, and nickel all soaring, as new energy demand exploded and valuations were restored