SunSirs: On August 17, the Cobalt Market Rebounded and Rose
August 18 2022 09:05:43 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, cobalt prices rose on August 17, and the cobalt market recovered. On August 17, the cobalt price was 342,400 RMB/ton, an increase of 0.03% from the price of 342,300 RMB/ton cobalt price on the previous trading day. Stimulated by the recent purchase and storage news, cobalt prices fluctuated and rose.
Analysis review
The cobalt price in the LME market fluctuated and fell, the MB cobalt price fluctuated and rose, and the international cobalt price recovered and rose. The installed capacity of ternary batteries has increased, the sales of new energy vehicles have increased, and the sales of mobile phones have declined. Stimulated by the news of national purchase and storage, the supply of domestic cobalt market declined. The price of cobalt salt rose, and the rising momentum of metal cobalt increased.
Market outlook
Demand has stabilized, supply has declined, the cobalt industry chain has risen, and the impetus for cobalt prices to rise has increased. It is expected that cobalt prices will fluctuate upward in the future.
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