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SunSirs: International Cobalt Market Stimulates China's Cobalt Price Recovery

May 26 2021 08:46:05     SunSirs (Linda)

International cobalt prices stop falling and rebound

According to the MB cobalt price statistics table, cobalt prices have stopped falling and rebounded recently, and international cobalt prices have fluctuated upward, which is positive for the domestic cobalt market. According to the LME cobalt price chart, the cobalt price fluctuated and fell in May, but the decline slowed down in May, the LME cobalt market weakened and stabilized, and the LME market's negative impact on the cobalt market weakened. In general, the overall international cobalt price is slowly picking up.

China's cobalt market trend

The domestic cobalt price slowly fell after rising in May, and the cobalt market fluctuated and recovered. As of May 25, the cobalt price was 349,333.34 yuan/ton, which was an increase of RMB 34,5000.00/ton from the beginning of the month (May 1), an increase of 1.26%; compared with the May 12 cobalt price of 354,333.34 yuan/ton, a decrease of 1.41%. Cobalt prices bottomed out and rebounded and the market picked up.

Quotes Summary

SunSirs data analysts believe that the domestic cobalt price rises insufficient momentum due to the continued decline in cobalt salt prices. However, the international cobalt price has fluctuated up recently, and the international cobalt market has slowly recovered, which has a certain positive stimulus to the domestic cobalt market. The domestic cobalt market is expected to pick up slowly in the future.

Related listed companies

Huayou Cobalt (603799), Hanrui Cobalt (300618), Luoyang Molybdenum (603993).

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