SunSirs: International Cobalt is Weak, Domestic One Swings and Adjusts
October 29 2019 11:10:36 SunSirs (Linda)
1. Prices Trend
According to the data monitoring of SunSirs, the domestic cobalt prices have beenswing and adjusting recently, and the rising power of the cobalt market is insufficient. On Oct 27, the price of cobalt was 28,5000.00RMB/t, down 5.11% lower than the average price of 300,333.34RMB/t on Oct 1, 2.03% johjrt than the price of Oct19. Overall, the recent cobalt market swings and adjusts and the prices shake widely and maintain stable.
2. Market Analysis
Cobalt prices (LME spot)
Recently, the spot cobalt prices of LME have been weakened and then stabilized. The overall trend of the international cobalt market has been weak, and the driving force for the rise of the cobalt prices has been insufficient. However, due to the influence of the cost of cobalt and the relationship between supply and demand in the future market, there is limited space for the international cobalt prices to fall, and the international cobalt prices are volatile and stable. In the future, the domestic cobalt price lack rising power, and the shock adjustment may increase.
Cobalt prices (LME futures)
The prices of futures cobalt went all the way up and then maintained stable. The international cobalt market is still optimistic about the future expectations, cobalt prices remain strong. However, due to the poor performance of demand side such as new energy vehicles at this stage, the rise of cobalt market is limited, and the high prices of cobalt has maintained stability.
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