SunSirs: International Cobalt Price Supported, Domestic Cobalt Price Rebounded Slightly This Week

https://www.chemnet.com   Sep 22,2022 SunSirs

　　Domestic cobalt prices rose slightly this week

　　According to the data monitoring of SunSirs, as of September 20, the cobalt price was 346,400 RMB/ton, an increase of 0.87% from the cobalt price of 343,400 RMB/ton on September 12; and a decrease of 1.17% compared with the cobalt price on September 1. Cobalt prices rose slightly this week.

　　On September 20, the cobalt commodity index was 124.60, the same as the previous day, down 47.85% from the highest point of 238.91 points (2018-04-15)), and up 78.41% from the lowest point of 69.84 points on July 05, 2016. (Note: The cycle refers to 2011-09-01 to the present).

　　From the weekly histogram of the cobalt price trend, it can be seen that the recent trend of cobalt prices has risen and fallen, and the decline of the cobalt market has eased. Since August, cobalt prices have risen for three consecutive weeks, and the cobalt market has begun to pick up. At the end of August and early September, cobalt prices have fallen rapidly for two consecutive weeks, and the overall recovery of the cobalt market has not yet come. However, the price of cobalt rose slightly after that, and the cobalt market showed signs of recovery.

　　International cobalt prices fluctuated and rose this week

　　It can be seen from the MB cobalt price chart that the MB cobalt price fluctuated slightly this week, the international cobalt price continued to rise, and the international cobalt market continued to be strong, which had a certain upward support for the domestic cobalt price.

　　Market outlook

　　The data analyst of SunSirs believes that the cobalt price fluctuated slightly this week, and the cobalt market has a trend of recovery. Recently, the operating rate of lithium salt-related enterprises has been adjusted, and the price of cobalt salt has risen slightly. The supply and demand in the cobalt market has been slightly adjusted, but it has not fundamentally changed the balance of supply and demand, and the support for the rise in cobalt prices is limited. International cobalt prices remained strong, and MB cobalt prices rose slightly in September, which was good for the domestic cobalt market. In general, the rise in international cobalt prices and domestic cobalt salt prices has a certain positive impact on the domestic cobalt market, but it has not broken the existing supply and demand balance in the cobalt market, and the trend of cobalt prices is relatively stable. At the same time, the recent good for the cobalt market still exists, and the bad is not enough, and the downward pressure on cobalt prices is less. It is expected that the cobalt price will fluctuate and consolidate in the market outlook.

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