SunSirs: Summary of Domestic Cobalt Market Trends on September 9th

https://www.chemnet.com   Sep 10,2024 SunSirs

Price trend

On September 9th, the domestic price of cobalt metal was 158,000-183,000 RMB/ton, showing a weak trend towards stability.

Analysis review

The cobalt market was weak and stabilizing, with a month on month increase in the production and sales of ternary batteries, and a decrease in the proportion of ternary battery installations; 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 fluctuating decline in cobalt salt prices had led to a weak downward adjustment 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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