SunSirs: Summary of Domestic Cobalt Market Trends on August 19th

https://www.chemnet.com   Aug 20,2024 SunSirs

On August 19th, the domestic price of cobalt metal was 168,000-212,000 RMB/ton, with a weak decline in price

The cobalt market was weak and declining, with a year-on-year decrease in the production and sales of ternary batteries, as well as a decrease in the proportion of ternary battery installations; Emerging markets such as digital wearables were growing slowly, global mobile phone product shipments were increasing, and demand growth in the cobalt market was limited; The import volume of cobalt raw materials had increased, and the supply in the cobalt market was sufficient; The supply of cobalt salts had recovered, and the prices of cobalt salts had fluctuated and fallen. The price of lithium cobalt oxide had also fallen, which still posed a negative impact on the cobalt market; The international cobalt price had fluctuated and fallen, which was bearish for the domestic cobalt market; The overall upward momentum of the cobalt market had weakened, and downward pressure still existed.

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