SunSirs: Summary of Domestic Cobalt Market Trends on September 20th

https://www.chemnet.com   Sep 23,2024 SunSirs

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On September 20th, 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 consolidating, 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 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 still had a negative impact on the domestic cobalt market; The overall cobalt market had weak upward momentum and downward pressure still existed.

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