Price trend

On May 6th, the domestic price of cobalt metal was 230,000-255,000 RMB/ton, and the price stabilized. The cobalt market was weakly consolidating.

Analysis review

The production and sales volume of ternary batteries have increased, and the demand for cobalt in the market has grown; The export of cobalt from the Democratic Republic of Congo has been banned, and the import of cobalt raw materials has decreased. The export of intermediate cobalt products from Indonesia has increased, making up for the shortage of cobalt raw material supply. The overall supply of cobalt in the cobalt market was sufficient; The supply of cobalt salts was sufficient, and the price of cobalt salts was stabilizing. The price of lithium cobalt oxide was weak and falling, which weakened the positive news for the cobalt market; The international cobalt price was fluctuating and stabilizing, which weakened the bullish trend for the domestic cobalt market; The overall upward momentum of the cobalt market weakened, and downward pressure still existed.

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