SunSirs: Views on the Trend of Cobalt Prices on March 21
March 22 2022 08:36:14 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, the domestic cobalt price fell slightly on March 21, and the cobalt market was temporarily stable. On March 21, the cobalt price was 566,300 RMB/ton, down from 566,700 RMB/ton on the previous trading day, a decrease of 0.07%; the cobalt market fell, and the cobalt price fell slightly.
Analysis review
The international cobalt price rose slowly, and the price difference between domestic and foreign countries weakened; the consumption of new energy vehicles increased, the sales volume of new energy vehicles decreased month-on-month, the growth rate of cobalt market demand fell, the output of ternary batteries increased year-on-year, the demand in the cobalt market was still strong, and the driving force for the cobalt market to rise still existed. The price of cobalt rose too fast in the early stage, and the risk of falling in the future market still exists.
Market outlook
The cobalt price at high demand is temporarily stable, the price difference between domestic and foreign cobalt prices has weakened, the cobalt price has risen too fast, and the downside risk still exists. It is expected that the cobalt price will fluctuate to rise slightly in the future.
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