SunSirs: Views on China's Cobalt Price Trend on September 24

Cobalt prices rise on September 24

On September 24, the domestic cobalt market continued its upward trend. Cobalt prices rose, and the domestic cobalt market rose. On September 24, the cobalt price was RMB 38,1200.00/ton, which was an increase of RMB 37,8600.00/ton on the previous trading day (September 23), an increase of 0.69%.

In the international market, the international cobalt price has continued to rise; in the domestic market, during the Mid-Autumn Festival, the domestic cobalt market has stagnated spot trading. Affected by the dual control of energy, some companies are expected to stop production and resume work after the National Day. Up. The overall upward momentum of the cobalt market is strong, stimulating the domestic cobalt market to rise.

In the past 21 years, the price of ternary materials has risen by 52%, the price of anode materials has risen by 70%, the price of electrolyte has risen by 151%, and the cost of raw materials for lithium batteries has risen sharply. The cost of battery cells has increased significantly since the beginning of the year, and the cost of batteries has basically risen by 17,000 yuan! The price of the whole vehicle will increase by at least 5%. New energy automobile companies are currently expanding their market share, and most car companies will not choose to increase prices to affect sales. At present, many car companies lower price battery companies and basically do not accept battery price increases to ensure that their profits are less affected. Since the beginning of this year, the cost pressure of battery companies has increased sharply, and it is more difficult to pass downwards. Battery companies have poor acceptance of high-priced raw materials, downstream companies are more resistant to the rise of cobalt prices, and the cobalt market is under greater downward pressure.

Recently, international cobalt prices have risen continuously, and the domestic cobalt market has started to decline, and the supply of cobalt in the cobalt market has been insufficient, which has stimulated the rise of cobalt prices. However, in the long run, downstream companies have a low acceptance of high-priced cobalt, and the cobalt market still has insufficient support for rising prices and downward pressure. Cobalt prices are expected to fluctuate and stabilize after a slight increase in the market outlook.

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

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