SunSirs: On March 18th, the Domestic Cobalt Market Experienced Weak Consolidation

Price trend

On March 18th, the domestic metal cobalt quotation was 235,000-279,000 RMB/ton, with a weak adjustment in the quotation and a weak adjustment 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 plans to introduce a cobalt export quota system, resulting in a tight supply in the cobalt market; The tight supply of cobalt salts has led to an increase in cobalt salt prices and lithium cobalt oxide prices, which was highly favorable for the cobalt market; The rise in international cobalt prices had a significant positive impact on the domestic cobalt market; The overall cobalt market had a stronger upward momentum and weakened downward pressure.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.