Price trend

According to the data monitoring of SunSirs, the cobalt price fell on June 1, and the cobalt market continued to decline. On June 1, the cobalt price was 445,500 RMB/ton, down 0.87% from the previous day's cobalt price of 449,400 RMB/ton. Cobalt prices continued the decline in May, and the cobalt market rebounded indefinitely.

Analysis review

The cobalt price in the LME market fell, the MB cobalt price fell, the international cobalt price fell, and the domestic and foreign price difference weakened; the output of ternary batteries fell, and the demand in the cobalt market was lower than expected.

Tesla and many other new energy vehicle manufacturers have resumed work and production, but the overall output has not returned to the previous level. The inflection point of the epidemic is not yet clear, the large-scale resumption of work and logistics and transportation have not yet fully recovered, the sales of mobile phones have plummeted, the demand in the cobalt market has dropped, and the short-term demand recovery has not been as good as expected.

The price of cobalt salt fell sharply, and the metal cobalt was affected and fell, and the pressure on the decline of cobalt price increased.

Market outlook

Demand declines, the recovery is difficult to meet expectations, and cobalt prices are under great downward pressure. It is expected that the cobalt price will fluctuate weakly and adjust in the market outlook.

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