SunSirs: Summary of Domestic Cobalt Market Trends on August 5th

Price trend

On March 5th, the domestic price of metallic cobalt ranged from 181,000 to 220,000 RMB/ton, with fluctuating prices and an upward trend in the cobalt market.

Analysis review

The production and sales of ternary batteries have grown slowly, while the demand for cobalt in the market remained stable; The export of cobalt in the Democratic Republic of Congo has been banned, leading to a decrease in the supply of cobalt raw materials. The government of the Democratic Republic of Congo planned to introduce a cobalt export quota system, resulting in a tight supply in the cobalt market; The supply of cobalt salts was tight, and the prices of cobalt salts and lithium cobalt oxide were rising, which was more favorable for the cobalt market; The international cobalt price has fluctuated and risen, which has increased the positive impact on the domestic cobalt market; The overall cobalt market has seen an increase in upward momentum and a decrease in downward pressure.

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