SunSirs: Summary of Domestic Cobalt Market Trends on September 25th

https://www.chemnet.com   Sep 26,2024 SunSirs

Price trend

On September 25th, the domestic metal cobalt quotation was 159,000-183,000 RMB/ton, and the quotation stabilized, indicating a strong and stable cobalt market trend.

Analysis review

The production and sales volume of ternary batteries have increased month on month; 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 fluctuation of cobalt salt prices had led to a weak adjustment in lithium cobalt oxide prices, which was bearish for the cobalt market; The strong adjustment of international cobalt prices still posed a negative impact on the domestic cobalt market; The overall cobalt market had increased its upward momentum, but downward pressure still existed.

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