SunSirs: Demand Rebounded and Cobalt Prices Rose in Shock in March

The domestic cobalt price rose in shock in March

According to the data monitoring of SunSirs, as of March 9, the cobalt price was 311,000 RMB/ton, up 2.57% from the price of 303,200 RMB/ton on March 1. The supply of cobalt market was limited, the demand recovered, the international cobalt price rose, and the domestic cobalt price rose in shock.

The international cobalt price rose in shock

From the trend chart of MB cobalt price, it can be seen that the MB cobalt price rose in shock this week, the international cobalt price rose, the domestic cobalt market was good, the downward pressure on the domestic cobalt price weakened, and the upward momentum increased.

Sales of new energy vehicles rose in February

According to the data released by the Passenger Federation, the wholesale sales of new energy passenger vehicles reached 496,000 in February, up 56.1% year-on-year and 27.5% month-on-month. In February, the domestic retail sales of new energy passenger vehicles reached 439,000, up 61.0% year-on-year and up 32.8% month-on-month. With the recovery of the domestic economy, the sales of new energy vehicles increased significantly in February on a month-on-month basis, and the increase in retail sales was significantly higher than the increase in wholesale sales, indicating that the market recovery was faster than expected, the expected growth of new energy vehicle sales in the future was obvious, and the demand in the future cobalt market recovers.

Overview and prospect

According to the data analysts of SunSirs, the international cobalt price fluctuated and rose, which was good for the domestic cobalt market; The sales of new energy vehicles rose, and the sales of new energy vehicles recovered faster than expected, and the demand of cobalt market was expected to recover. The demand of cobalt market recovered and the growth of supply was limited. It is expected that the cobalt market in the future will rise in shock.

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