Oil and other energy prices rose rapidly, repeatedly hit a new high in recent years. Affected by the complex and volatile foreign situation, supply and demand imbalance, capital market speculation and other three factors, March 2022 Brent crude oil and NYSE WTI crude oil futures exceeded $110 and $120 per barrel in succession, including March 8, the price of two oil hit a new high in nearly 14 years. From the average value, the two oils in March compared to the same period last year average price increased by 71.2%, 80.4%, respectively, and 58.5%, 65.2% respectively, compared to the whole of last year. the two oils at the end of March respectively, compared to the beginning of the year cumulative increase of 38.7%, 33.3% respectively.
In addition, the rapid rise in energy prices drove up the cost of China's imports, the first quarter of this year, China's crude oil, refined oil, natural gas imports average price rose 56.1%, 37.4% and 78%, respectively, compared with the same period last year. Need to pay attention to the oil refining industry damage under the rapid price increases, textile, light industry and other downstream industries operating costs rise. Rising oil prices also affected the consumption demand of traditional fuel vehicles to a certain extent.
Copper prices to maintain a high level of operation, aluminum prices rose sharply. By copper supply and demand imbalance, aluminum supply tightening superimposed on capital speculation and other factors, March 2022 London Metal Exchange (LME) 3-month copper to maintain more than 10,000 U.S. dollars to run at historically high levels, LME 3-month aluminum rapid rise, including March 7 intraday rose above 4200 U.S. dollars / ton, a new record high. From the average value, copper, aluminum in March compared with the same period last year, respectively, 14%, 60.1%, compared with the whole of last year, respectively, 9.3%, 29.8%. the end of March LME copper, aluminum, respectively, compared with the beginning of the cumulative rise of 6.7%, 25.4%. Need to focus on copper, aluminum prices rose respectively on the power equipment, light industry, home appliances and automotive, building materials and other industries rising cost impact.
Lithium nickel hit a record high, cobalt continues to run high. Affected by supply and demand imbalance and other factors, the end of March 2022 LME 3 months cobalt, nickel and electrolytic nickel, lithium iron phosphate materials, battery-grade lithium hydroxide, battery-grade lithium carbonate were up 16.3%, 60.6%, 40.4%, 63.1%, 1.2 times, 82.7%, respectively, compared to the average value of 2021 rose 59.3%, 80.3%, 55.6%, 55.6 1.7x, 3.3x, and 3.1x. Lithium-nickel hit a record high in March, and cobalt continued to run high and hit a new high since July 2018, with LME nickel topping out at US$100,000/ton on March 8 intraday. In terms of average value, the above raw material prices in March were 54.3%, 1.3 times, 74.5%, 2.5 times, 6 times and 4.9 times higher than the average price in the same period last year. Need to focus on lithium cobalt nickel and other key aspects of raw material prices rose sharply to increase the production costs of automotive parts.
