SunSirs: The Weekly Decline Narrowed, and the Trend of Cobalt Prices Stabilized
July 19 2022 09:20:22 SunSirs (John)
Cobalt prices fell slightly this week
According to the data monitoring of SunSirs, the cobalt price fluctuated downward slightly this week As of July 18, the cobalt price was 3,556,000 RMB/ton, down 1.44% from the price of 361,200 RMB/ton cobalt price on July 10 last weekend. The cobalt market demand was expected to decline, and the cobalt price fluctuated down.
Cobalt price weekly decline narrowed
It can be seen from the weekly histogram of the rise and fall of cobalt in SunSirs that the recent trend of cobalt prices has fallen sharply. Since late April, cobalt prices have fallen sharply. Except for a brief rebound in cobalt prices caused by holidays in early June, cobalt prices continued to decline. However, the trend of cobalt price rise and fall since mid-June can also be seen, the weekly decline of cobalt has narrowed in the past month, and the cobalt market has stabilized in July.
Market outlook
The data analyst of SunSirs believes that the recent cobalt price has continued to fall, the sales of new energy vehicles have risen less than expected, the sales of mobile phones have fallen sharply, and the demand in the cobalt market has not performed well. In terms of supply, the transportation of cobalt raw materials in South Africa, which was interrupted by heavy rain, resumed supply, and the supply of cobalt market was normal. In the future, the cobalt market has normal supply and poor demand. It is expected that the cobalt price will fluctuate downward slightly in the future, and the overall cobalt market will be weak and stable.
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