电池价格低迷之际，对冲基金悄然买入实物钴

华尔街见闻07-06

作为制造电池的关键金属之一，估在电池价格低迷之际却有了“聪明钱”悄然重回市场、变得谨慎乐观的迹象。最近媒体获悉，两家对冲基金Anchorage Capital Advisors 和 Squarepoint Capital LLP正在悄悄买入实物钴。其中，Squarepoint 一直在向贸易商购买钴金属，Anchorage 则一直在购买钴金属和氢氧化钴。后者是一种生产硫酸钴的中间产品，硫酸钴用于...

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href=https://wallstreetcn.com/articles/3718938><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>作为制造电池的关键金属之一，估在电池价格低迷之际却有了“聪明钱”悄然重回市场、变得谨慎乐观的迹象。\n最近媒体获悉，两家对冲基金Anchorage Capital Advisors 和 Squarepoint Capital LLP正在悄悄买入实物钴。其中，Squarepoint 一直在向贸易商购买钴金属，Anchorage 则一直在购买钴金属和氢氧化钴。后者是一种生产硫酸钴的中间产品，硫酸钴用于...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3718938\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0175139822.USD","symbol_name":"AB FCP I Global Equity Blend A 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则一直在购买钴金属和氢氧化钴。后者是一种生产硫酸钴的中间产品，硫酸钴用于电动汽车电池。Anchorage在芝商所（CME）市场一直交易活跃。\n两家对冲基金入手实物钴正逢钴价处于低谷。由于钴矿主要供应国刚果和印尼的产量激增，现货钴价已跌至七年多来最低位，今年多数时间价格在每磅12.5到15美元之间，较2022年电动汽车热潮期间钴约40美元/磅的巅峰期价格跌去至少超过六成。\n\n有评论认为，鉴于钴在转向清洁能源、净排放降至零方面发挥着关键作用，即使在估供应过剩和电动汽车需求下滑的情况下，钴也市场可能很快就会回归供需平衡。\n媒体指出，上述对冲基金的举动是金融机构参与实物金属交易的最新迹象。今年初以来，大量资金重新流入大宗商品，一些之前供过于求的金属市场为这些资金创造了以低廉的现货价格买入获利的机会。相比铜或石油这类大宗商品，钴属于相对较小的冷门市场。十年前，Pala Investments等基金就利用钴价疲软的机会大量买入，押注于新兴的能源转型，获利丰厚。\n不同于当年的是，过去期货市场流动性不佳，看涨钴几乎只能借助买入实物钴，现在钴期货也在CEM旗下的Comex市场兴起，为交易商能在期货市场对冲实物头寸创造了途径。一年后交割的钴期货价格已经比现货价格高出20%。巨大的现货贴水制造了套利的机会，如果如果现货价格飙升，实物钴的所有者就可以出售钴获得丰厚的利润，即使现货价格不变，他们也可以通过卖出期货锁定回报。不过，这种套利也存在风险，因为持有钴的基金平仓时必需在流动性相对较低的实物市场找到买家，而目前钴市供应严重过剩。\n媒体称，电动汽车行业供应激增和销售较预期疲软，导致今年钴市场出现创纪录的供应过剩，业内许多人对钴价反弹的前景持悲观态度。不含钴材料的磷酸铁锂电池越来越受欢迎也对钴的需求构成了威胁。但中国的战略储备机构今年一直在以创纪录的数量吸收钴金属的过剩库存，“这一趋势凸显了这种金属在电动汽车和国防领域的战略价值。”\n观察追踪开采锂、镍或钴中获得正收入和产值公司的ETF——ProShares S&P Global Core Battery Metals ETF 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