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SunSirs: International Cobalt Price Rising Continuously Reactivates Chinese Domestic Cobalt Market

June 23 2021 08:27:20     SunSirs (Linda)

Chinese domestic cobalt prices continue to rise

Since June 17, the cobalt price has risen for three consecutive days. As of June 22, the cobalt price was 354,666.66 yuan/ton, an increase of 3.50% from the 342,666.66 yuan/ton cobalt price on June 17. In June, the domestic cobalt price continued to fall, and the domestic cobalt market was weak. However, the international cobalt price continued to rise recently, which stimulated the domestic cobalt market to rebound and the cobalt price rose again.

International cobalt prices continue to rise

It can be seen from the cobalt price in the LME market that the international cobalt market has bottomed out recently, and cobalt prices have continued to rise. The rising international cobalt market has stimulated the recovery of the domestic cobalt market, and the domestic cobalt price has increased. It can be seen from the trend of MB cobalt prices that in June, cobalt prices continued to rise. Cobalt prices have risen for 5 consecutive trading days since June 14. The rising international cobalt market has activated the domestic cobalt market.

Market summary

International cobalt prices have risen continuously. MB cobalt prices have risen for 5 consecutive trading days, and cobalt prices in the LME market have risen for two consecutive trading days. The rise in the international cobalt market stimulated the recovery of the domestic cobalt market. On the 21st, the cobalt price in the LME market fell slightly, and the international cobalt market lacked momentum. The domestic cobalt market stabilized. It is expected that the cobalt market will stabilize strongly in the future.

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

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