SunSirs: The Cobalt Market Fell on September 7
September 08 2022 09:05:54 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, the cobalt price fell on September 7, and the cobalt market fell. On September 7, the cobalt price was 343,200 RMB/ton, down 0.20% from the 343,900 RMB/ton cobalt price on the previous trading day.
On September 7, the cobalt commodity index was 123.45, a decrease of 0.26 points from previous day, a decrease of 48.33% from the highest point in the cycle of 238.91 points (2018-04-15), and an increase of 76.76% 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 stabilized, the MB cobalt price fluctuated and stabilized, and the international cobalt price stabilized. The temperature dropped and the precipitation increased, Sichuan Province resumed supply, the cobalt salt and lithium salt industry chain enterprises resumed work one after another, and the cobalt salt price stabilized. The supply and demand of the new energy battery market gradually recovered, the rising momentum of the cobalt market weakened, and the downward pressure still existed.
Market outlook
The power curtailment expired, the supply and demand in the cobalt market returned to balance, the international cobalt price stabilized, and the price of cobalt salt stabilized. The previous cobalt price rise was no longer supported, and the cobalt price fell slightly. It is expected that the cobalt price will fluctuate and stabilize in the future.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
- 2024-04-16 SunSirs: The Proportion of Installed Ternary Batteries Had Decreased, and Cobalt Prices Fell Again This Week
- 2024-04-10 SunSirs: Supported by the Positive News in the New Energy Vehicle Market, Cobalt Prices Stopped Falling and Stabilized This Week
- 2024-02-28 SunSirs: Supply Reduced and Demand Increased, Cobalt Prices Stopped Falling and Rebounded in February
- 2024-02-21 SunSirs: The Resumption of Work and Production Was not Satisfactory, and Cobalt Prices Fluctuated and Fell after the Holiday
- 2024-02-20 SunSirs: Summary of Domestic Cobalt Market Trends on February 19th
