SunSirs: The Domestic Cobalt Price Fell in Shock This Week

The domestic cobalt price fell in shock this week

According to the data monitoring of SunSirs, as of December 19, the domestic cobalt price was 329,500 RMB/tonn, down 0.09% from the price of 329,800 RMB/tonn on December 11. The decline of international cobalt price slowed down, the price of cobalt salt became weak and stable, and the domestic cobalt price decreased slightly.

MB price fell slightly

It can be seen from the MB price trend chart that the MB price fell slightly this week, the international cobalt price fell, the decline of the international cobalt market slowed down, the domestic cobalt market was negative, and the domestic cobalt price was dragged to fall.

3C market consumption downturn

In recent years, the performance of mobile phones has been excessive, and the innovation of new products has been reduced, resulting in a lack of momentum for consumers to replace mobile phones. Consumer demand for mobile phones continues to decline, and the domestic smartphone replacement cycle is expected to increase to 34 months. According to the latest report of IDC, it is estimated that in 2023, the shipment volume of China's mobile phone market will decline 0.9% year on year, narrowing the decline; Although the epidemic prevention policy began to relax, the national consumption level still needs to recover. 3C market consumption is sluggish, while cobalt market demand is still sluggish.

Market outlook

According to the data analysts of SunSirs, the international cobalt price fell slightly this week, the cobalt salt price fell, the cobalt market was negative, and the demand in the cobalt market remained sluggish. In the future, the demand of cobalt market is sluggish, and the price of cobalt drops in shock. It is expected that the cobalt market will be lowered weakly in shock in the future.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com