SunSirs: Views on the Trend of Cobalt Prices on August 4
August 05 2022 08:26:40 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, the cobalt price fell on August 4, and the cobalt market fell. On August 4, the cobalt price was 319,100 RMB/ton, down 0.93% from the 322,100 RMB/ton cobalt price on the previous trading day. In August, cobalt prices fluctuated and fell, and the cobalt market continued to decline in the short term.
Analysis review
The cobalt price in the LME market was temporarily stable, the MB cobalt price fell slightly, and the international cobalt price fell slowly; the installed capacity of ternary batteries rose slightly, but the growth rate was lower than expected, the sales of new energy vehicles rose, the sales of mobile phones fell sharply, and the demand for cobalt in the cobalt market was lower than expected.
The price of cobalt salt fell, and the downward pressure on metal cobalt remained.
Market outlook
Demand rose less than expected, the cobalt industry chain fell, and the downward pressure on cobalt prices remained. It is expected that the cobalt price will fluctuate downward slightly in the future.
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