SunSirs: The Domestic Cobalt Price Fell Slightly on February 9
February 10 2023 09:50:41 SunSirs (John)
The domestic cobalt price fell slightly on February 9
According to the data monitoring of SunSirs, as of February 9, the domestic cobalt price was 290,000 RMB/ton, down 0.24% from the price of 290,700 RMB/ton on February 8 of the previous trading day. The domestic cobalt price fell slightly on February 9.
Analysis review
The cobalt price in LME market was weak and stable, the decline of MB cobalt price slowed down, and the decline of international cobalt price slowed down. The recovery of domestic economy was slow, the production and sales of new energy vehicles were in high expected, but in lower reality, the sales of mobile phones were low, and the recovery of cobalt market demand was less than expected. The import of cobalt raw materials had increased greatly, and the supply of cobalt was sufficient.
Market outlook
The decline of the international cobalt price slowed down, the demand recovery was less than expected, and the supply of cobalt market was sufficient. It is expected that the cobalt price will fall slightly in shock in the future.
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