SunSirs: Views on the Trend of Cobalt Prices on March 28
March 29 2022 09:13:31 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, the domestic cobalt price fell slightly on March 28, and the cobalt market fell. On March 28, the cobalt price was 562,000 RMB/ton, down 0.44% from the price of 564,500 RMB/ton on the previous trading day; 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 overseas still existed; the growth of new energy vehicle consumption slowed down. Affected by the epidemic, the increase in the installed capacity of ternary batteries slowed down, the growth of cobalt market demand slowed down, and the cobalt market's upward momentum weakened. The plummeting nickel price dragged up the cobalt price. The cobalt price rose too fast in the early stage, and the risk of downside still exists in the future.
Market outlook
Demand is high, cobalt prices are weak, the price difference between domestic and foreign cobalt prices still exists, cobalt prices are rising too fast, and the risk of falling is still there. It is expected that cobalt prices will fluctuate to rise slightly in the future.
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