SunSirs: Views on the Trend of Cobalt Prices on June 8
June 09 2022 10:48:46 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, the cobalt price stopped falling and rose on June 8, and the cobalt market rebounded and rose. On June 8, the cobalt price was 433,700 RMB/ton, an increase of 0.65% from the previous day's cobalt price of 430,900 RMB/ton. Cobalt prices stopped falling and rose, whether the cobalt market has ushered in an inflection point.
Analysis review
The cobalt price in the LME market has stabilized, the decline in MB cobalt prices has slowed down, and the decline in international cobalt prices has slowed down.
The output of ternary batteries has risen. According to the forecast of the China Automobile Association, the sales volume of the automobile industry in May is expected to be 1.7665 million units, an increase of 49.59% from the previous month. Sales of new energy vehicles rose, sales of mobile phones fell, and demand for cobalt recovered.
The price of cobalt salt stabilized, and the downward pressure on metal cobalt weakened.
Market outlook
Demand is slowly picking up, the cobalt industry chain has stabilized, and the downward pressure on cobalt prices has weakened. It is expected that cobalt prices will fluctuate and adjust strongly in the future.
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