SunSirs: Chinese Cobalt Companies Deliver Low-Price Shipments during the New Year
December 23 2020 08:53:15 SunSirs (Linda)
1. Trend analysis
According to SunSirs data monitoring, cobalt prices fluctuated slightly in December and the cobalt market weakened. As of December 22, the cobalt price was 264,166.66 yuan/ton, a decrease of 0.44% from the 265,333.34 yuan/ton at the beginning of the month (December 1).
2. Inventory of Wuxi Electronic Trading Center
It can be seen from the cobalt inventory and delivery volume that in December, the cobalt inventory in the Wuxi Exchange Center remained high. The cobalt market has a large inventory. The cobalt market is adequately supplied. The year is approaching. Some cobalt companies are happy to ship their funds after recovering funds at the end of the year. There is hardly a market, and the cobalt market is bearish.
3. Market summary
Bai Jiaxin, a data analyst at SunSirs, believes that the year is approaching, and the demand for the cobalt market has not increased significantly. On the supply side, cobalt companies are happy to ship products before the end of the year, and the cobalt market has sufficient supply. In the short term, the cobalt market is positive but not bad. Cobalt prices are expected to fluctuate slightly and weaken.
Related listed companies: Huayou Cobalt (603799), Hanrui Cobalt (300618), Luoyang Molybdenum (603993).
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