Price trend

According to the data monitoring of SunSirs, the decline of the cobalt market slowed down this week, and the price of cobalt fluctuated down. As of June 20, the cobalt price was 426,800 RMB/ton, down 1.79% from the cobalt price of 434,600 RMB/ton on June 12 last week; it was down 4.20% from the June 1 cobalt price of 445,500 RMB/ton. Cobalt prices fell slightly this week, and the decline in the cobalt market slowed down.

Analysis review

It can be seen from the monitoring data of SunSirs that since March, cobalt prices have fallen sharply, and the cobalt market has continued to weaken. Since June, the weekly rise and fall of cobalt prices has narrowed significantly, the decline of cobalt prices has slowed down, and the market has been stabilized.

It can be seen from the price rise and fall of the lithium battery sector of SunSirs that in the past month, the trend of the lithium battery sector products stopped falling and rose. The prices of lithium-related products such as lithium carbonate and lithium hydroxide stopped falling and rose. The decline in nickel and cobalt prices narrowed, the market for new energy vehicles recovered, and the demand for lithium batteries increased. The prices of related products in the lithium battery sector had an obvious upward trend.

Market outlook

The data analyst of SunSirs believes that as the resumption of work and production continues, the production and sales of the new energy vehicle industry chain has risen, the lithium battery-related products have stopped falling and the demand has picked up in the cobalt market. The international cobalt price has fallen sharply, the supply of cobalt raw materials is sufficient, the oversupply in the cobalt market has not fundamentally changed, and the room for cobalt price growth is limited. In general, the demand in the cobalt market has recovered, and the decline in cobalt prices has slowed down. It is expected that the cobalt price will stabilize after fluctuations.

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