Cobalt prices fluctuated and rose in July

According to data monitoring from SunSirs, as of July 10th, the cobalt price was 304,600 RMB/ton, an increase of 4.96% compared to July 1st, when the cobalt price was 290,200 RMB/ton. In July, cobalt prices continued to rise, breaking 300,000 RMB/ton.

Sales of new energy vehicles

According to a report released by the Traffic Management Bureau of the Ministry of Public Security, as of the end of June 2023, the total number of new energy vehicles in China reached 16.2 million, accounting for 4.9% of the total number of vehicles. Among them, the total number of pure electric vehicles was 12.594 million, accounting for 77.8% of the total number of new energy vehicles. The sales of new energy vehicles increased, and demand continued to rise, and the support for the rise of cobalt prices still existed.

Overview and outlook

SunSirs data analysts believe that new energy vehicles are in a stable growth range, and sales of 3C products such as smartphones are rebounding and rising; Cobalt market demand increased. Overall, demand has rebounded and cobalt prices are expected to fluctuate and rise in the future.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.