SunSirs: Summary of Domestic Cobalt Market Trends on September 18th

https://www.chemnet.com   Sep 19,2024 SunSirs

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On September 18th, the domestic metal cobalt quotation was 158,000-183,000 RMB/ton, with weak consolidation in the quotation and weak consolidation in the cobalt market.

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 weak adjustment of international cobalt prices had 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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