129809694352812500_609Three rings: rare earth prices have helped to enhance the company's performance expectations
ND-Fe-b price hit bottom
Diablo 3 Gold, subsequent increases more likely since the middle of March
TERA Power Leveling, neodymium-Iron-Boron-neodymium-praseodymium metal core material price has risen to $ 585
wow power leveling,000/t, close to the 30% increases. Neodymium-praseodymium oxide from 360,000 yuan/ton in mid-March to reach the current 460,000 yuan/ton. Due to the limited 12 added rare earth production in the international market. Special invoice accompanied by domestic rare earth solidEffect of rare earth region and continued consolidation, increases the supply of capacity in China will also be relatively limited. Recent price rises from a certain extent, reflect the supply and demand sides of the rare earth market trends for 12 relative optimism. On the downstream market of ND-Fe-b magnetic material, continuous adjustments to reduce the cost of transferring early price region of low pressure. While a few applicationsAlternative resources can occur, but less likely to be widespread adoption of ferrite magnetic materials. Under continued to fall in price is no longer expected, expected to prompt buyers back to the market. At the same time taking into account the current inventory status of the industry chain, and demand season come step by step, we judge the price of ND-Fe-b at the end of current foundation built on, will increase the probability of subsequent rebound. New booster, zhongke sanhuan industryThree rings in the highest performance elastic as a domestic leading enterprises in ND-Fe-b magnetics, will benefit from the industry chain price rises and new industry growth is expected. In the context of ND-Fe-b prices rallied, company results for the subsequent quarters there is a big up flexibility. In addition to the price, the company 12 years there is still capacity space. 11 the end of inventory into the low point of the company. This yearSince its beginning has begun to gradually increase the inventory, reflected the company product prices and demand of optimism for the future judgment. Also by raising the level of automated production, reduce the use of heavy rare earth and other ways to improve production efficiency. 12 years will maintain a robust income growth, gross margin remained relatively high. Investment recommendations and ratings from ton capacity corresponds to the market value of the scale,Zhongke sanhuan static capacity is twice times the comparable companies, market value but only 1.6 times of other times. From the industrial chain of comparable companies, rare earth magnetic materials as materials of rare earth extending system, already have a resources property. Baotou steel rare earth 12 PE 32 times for comparable companies, and three rings of only 19 times in times. After the first stage of our target price is reached, we hike under the companyA target price to $ 50, corresponding to 12 times PE. Follow-up still has raised its performance space, giving the overweight rating.
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