SunSirs: Views on the Trend of Cobalt Prices on April 6
April 07 2022 09:28:50 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, the domestic cobalt price rose slightly on April 6, and the cobalt market stabilized. On April 6, the cobalt price was 558,100 RMB/ton, an increase of 0.22% from the previous trading day's cobalt price of 556,900 RMB/ton; the cobalt market was temporarily stable, and the cobalt price rebounded slightly.
Analysis review
The international cobalt price has stabilized, and the price difference at home and abroad still exists; the consumption of new energy vehicles has declined, and under the influence of the epidemic, the installed capacity of ternary batteries has decreased month-on-month, the demand in the cobalt market has declined, and the upward momentum of the cobalt market has weakened.
The nickel price dragged the cobalt price up, and the cobalt price rose too fast in the early stage, and the risk of downside still exists in the future.
Market outlook
The demand weakened, and the cobalt market was under great downward pressure. The cobalt price rose too fast in the early stage, and the downside risk still exists. It is expected that the cobalt price will fluctuate up slightly in the future.
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