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SunSirs: Cold Market Response, Cobalt Price Fall Slightly

January 20 2020 10:17:19     SunSirs (Linda)

1. Trend analysis

According to the monitoring of SunSirs data, the cobalt price fell slightly this week, the cobalt market demand was cold, the cobalt price support was insufficient, and the cobalt price fell. As of January 17, the cobalt price was quoted at 274,500.00RMB/ton, which was 0.72% lower than the average cobalt price quoted at the beginning of the week (January 13) at 276,500.00RMB/ton. This week's demand for the cobalt market was cold and cobalt price fell.

2. Market analysis

LME cobalt price

From the LME cobalt price trend chart, it can be seen that the cobalt price of the LME market fell this week. After a brief rise in the cobalt market price, the price fluctuated and fell.

MB cobalt price

Time

Category

Lowest price

Change

Highest price

Change

Unit

Jan,3

Standard grade

15.25

0.15

16.05

0.15

USD/lb

Jan,3

Alloy grade

15.8

0.2

16.45

0

USD/lb

Jan,8

Standard grade

15.55

0.3

16.5

0.45

USD/lb

Jan,8

Alloy grade

15.85

0.05

16.55

0.1

USD/lb

Jan,10

Standard grade

15.7

0.15

16.5

0

USD/lb

Jan,10

Alloy grade

16.2

0.35

16.7

0.15

USD/lb

Jan,15

Standard grade

15.7

0

16.5

0

USD/lb

Jan,15

Alloy grade

16.25

0.05

16.8

0.1

USD/lb

Jan,17

Standard grade

16

0.3

16.7

0.2

USD/lb

Jan,17

Alloy grade

16.5

0.25

17

0.2

USD/lb

It can be seen from the table that the price of MB cobalt dropped this week, and the growth rate of the cobalt market has stabilized. The impetus for rising cobalt prices has weakened.

3. Outlook

SunSirs analysts believe that after 2020, stimulated by good early news, cobalt prices will continue to rise. In addition, the company's advance stocking during the Spring Festival this year also contributed to the rise in the price of cobalt. However, after the rise in cobalt prices, the market's transaction situation was general. The heat of the cobalt market gradually declined. Cobalt prices fell in the afternoon. With the impact of factors such as logistics outages and reduced holiday supply during the Spring Festival, cobalt prices in the market may still rebound briefly, but this is not a long-term reflection of the supply and demand environment in the cobalt market. Changes in the market situation of the cobalt market after the Spring Festival still need to wait and see. It is expected that the price of cobalt may still increase slightly before the Spring Festival, but the overall cobalt market is weakening, and the cobalt price is not motivated to increase.

Related listed companies: Huayou Cobalt (603799), Hanrui Cobalt (300618), Luoyang Molybdenum (603993).

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

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