SunSirs: Summary of Domestic Cobalt Market Trends on September 11th

https://www.chemnet.com   Sep 12,2024 SunSirs

Price trend

On September 11th, the domestic metal cobalt quotation was 158,000-183,000 RMB/ton, and the quotation stabilized, indicating a stable cobalt market situation.

Analysis review

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 had increased, and the supply in the cobalt market was sufficient; The recovery of cobalt salt supply had led to a fluctuating decline in cobalt salt prices, while the price of lithium cobalt oxide had stabilized, which was bearish for the cobalt market; The international cobalt price was stabilizing, which weakened the negative impact on the domestic cobalt market; The overall cobalt market had weak upward momentum, and downward pressure still existed.

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