Domestic cobalt price fell on February 7

According to the data monitoring of SunSirs, as of February 7, the domestic cobalt price was 291,700 RMB/ton, down 0.78% from the price of 294,000 RMB/ton on February 6; The cobalt price fell by 1.52% from the price of 296,200 RMB/ton on February 1. On February 7, the domestic cobalt price fell as before.

Analysis review

Recently, the cobalt price in the LME market had plummeted continuously. In February, the price of MB cobalt continued to fall, and the international cobalt price fell sharply; After the festival, the downstream customers replenished the stock, and the demand for cobalt temporarily warmed up, and the price of cobalt briefly rebounded; The recovery of cobalt market demand was less than expected, and the price of cobalt continued to decline.

Market outlook

The international cobalt price fell sharply, and the demand recovery was less than expected. It is expected that the cobalt price will fluctuate and fall in the future.

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