SunSirs: Summary of Domestic Cobalt Market Trends on September 10th

https://www.chemnet.com   Sep 11,2024 SunSirs

Price trend

On September 10th, the domestic price of cobalt metal was 158,000-183,000 yuan/ton, with weak prices stabilizing and the cobalt market stabilizing.

Market outlook

The production and sales volume of ternary batteries had 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 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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