Price trend

According to the data monitoring of SunSirs, the domestic cobalt price rebounded and rose on April 14, and the cobalt market recovered. On April 14, the cobalt price was 552,200 RMB/ton, an increase of 0.33% from the previous trading day's cobalt price of 550,400 RMB/ton; the cobalt market rebounded, and the cobalt price rebounded.

Analysis review

The international cobalt price fluctuated and rose, and the price difference between domestic and foreign increased; due to the impact of the epidemic, the supply of some parts and components was cut off, and NIO said on April 9 that it had suspended vehicle production. Tesla's Shanghai Gigafactory had not yet resumed production, and more car companies had adopted closed-loop management. Ningde City issued an emergency notice, announcing that traffic control would be implemented on external passages from April 10, and the battery giant Ningde Times was affected and adopted "closed-loop management". Downstream manufacturers have stopped production, reduced production or closed-loop management, affecting the demand in the cobalt market, and the rising momentum of the cobalt market has weakened. South Africa's transportation was hindered by heavy rain, and the supply of cobalt ore is expected to decrease in the future, and the upward momentum of the cobalt market increased.

Market outlook

Short-term demand weakens, future supply is expected to decrease, short-term cobalt prices weaken, and long-term future cobalt prices are expected to fluctuate to rise slightly.

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