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SunSirs: International Cobalt Prices Rebounded and Rose, and Domestic Cobalt Market Rebounded
June 07 2023 10:58:23SunSirs(John)

Domestic cobalt prices rebounded and rose

According to data monitoring from SunSirs, as of June 6th, the cobalt price was 257,500 RMB/ton, an increase of 0.78% compared to June 4th, when the cobalt price was 255,500 RMB/ton; The cobalt price increased by 1.74% compared to 253,100 RMB/ton at the end of last month on May 31st. The international cobalt price rebounded and rose, the domestic cobalt market picked up and the cobalt price fluctuated and rose.

International cobalt prices rebounded and rose

From the trend chart of MB cobalt prices, it can be seen that in June, MB cobalt prices fluctuated and rose, international cobalt prices rebounded and rose, and domestic cobalt manufacturers and traders followed suit.

Overview and outlook

According to data analysts from SunSirs, the rebound and rise in international cobalt prices was beneficial for the domestic cobalt market; Recently, the price of cobalt salt had fluctuated and increased, the price of intermediate cobalt products rose, and the driving force for cobalt price increase had increased; In May, the sales of new energy vehicles rebounded, and the demand for lithium batteries and storage equipment rebounded, leading to an increase in demand in the cobalt market. Overall, the rise of the international cobalt market had stimulated a rebound in the domestic cobalt market, leading to an increase in demand. It is expected that cobalt prices will fluctuate and rise in the future.

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