SunSirs: The Decline of International Cobalt Price Remained While Domestic Cobalt Price Rebounded Slightly

The domestic cobalt price rebounded slightly

According to the data monitoring of SunSirs, as of November 14, the average domestic cobalt price was 344,700 RMB/ton, up 3.14% from the price of 334,200 RMB/ton on November 7; Compared with the cobalt price of 342,700 RMB/ton on November 1, the cobalt price increased slightly by 0.58%. In November, the cobalt price fell first and then rose, and the overall domestic cobalt price rebounded slightly. Correspondingly, the decline of international cobalt price remained unchanged.

MB Cobalt Price

It can be seen from the MB cobalt price trend chart that the MB cobalt price continued its October’s decline in November. As of November 11, the average price of standard grade cobalt was 22.475 US dollars/pound, down 2.525 US dollars/pound from the standard grade cobalt price of 25 US dollars/pound on November 1; On November 11, the average price of alloy grade cobalt was 24.875 US dollars/pound, down 1.375 US dollars/pound from the average price of alloy grade cobalt of 26.25 US dollars/pound on November 1. The international cobalt price fell sharply, and the decline in the cobalt market remained.

Overview and prospect

According to the data analysts of SunSirs, domestic consumption in November is expected to be good for the domestic cobalt market. Mobile phone consumption accounted for a high proportion of mobile phone consumption during the "Double 11" holiday, and mobile phone consumption stimulated the demand in the cobalt market. Recently, lithium cobalate was the only one that rose among cobalt salts (the price of most cobalt salts fell, while the price of lithium cobalate rose slightly). However, the domestic consumption stimulus had little impact on the international market. Recently, the supply and demand of the cobalt market had limited changes, and the decline of the international cobalt price remained unchanged. In the future, although the sales of new energy vehicles have reached new highs, ferrous lithium phosphate battery has greatly occupied the ternary battery market, and the demand in cobalt market is less than expected. In the short term, mobile phone consumption has stimulated the growth of cobalt market demand, but this kind of stimulus is even more unsustainable. It is expected that the cobalt price in the future will fluctuate to be stable.

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