SunSirs: On August 25, the Cobalt Market Fluctuated and Rose
August 26 2022 10:44:54 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, cobalt prices rose on August 25, and the cobalt market rose. On August 25, the cobalt price was 356,400 RMB/ton, an increase of 2.41% from the 348,000 RMB/ton cobalt price on the previous trading day.
On August 24, the cobalt commodity index was 125.18, an increase of 0.58 points from previous day, a decrease of 47.60% from the highest point in the cycle of 238.91 points (2018-04-15), and an increase of 79.24% points from the lowest point of 69.84 points on July 05, 2016. (Note: The cycle refers to 2011-09-01 to the present).
Analysis review
The cobalt price in the LME market rose, the MB cobalt price fluctuated and rose, and the international cobalt price rose. Affected by the high temperature and drought, Sichuan Province has recently completely cut power, the Ningde Times Sichuan battery factory has stopped production, and the lithium salt enterprises in Sichuan have stopped production, and the supply of lithium salt has declined. The supply of new energy batteries has decreased, and the reduction of production by lithium salt companies has stimulated the rise in lithium salt prices and the rise in the cobalt market.
Market outlook
Demand is temporarily stable, supply is declining, the cobalt industry chain market is rising, and the driving force for cobalt prices to increase is increasing. It is expected that cobalt prices will fluctuate and rise in the future.
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