SunSirs: Summary of Domestic Cobalt Market Trends on August 30th

https://www.chemnet.com   Sep 02,2024 SunSirs

Price trend

On August 30th, the domestic price of cobalt metal was 158,000-190,000 yuan/ton, with weak prices stabilizing and the cobalt market stabilizing.

Analysis review

The production and sales volume of ternary batteries increased month on month, while the proportion of ternary battery installations had decreased; Emerging markets such as digital wearables were growing slowly, 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 recovery of cobalt salt supply and the fluctuation of cobalt salt prices had led to a decline in lithium cobalt oxide prices, which was bearish for the cobalt market; The weak and stable international cobalt prices were bearish on the domestic cobalt market; The overall upward momentum of the cobalt market had weakened, and downward pressure still existed.

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