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

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

Price trend

On October 10th, the domestic cobalt metal quotation was 163,000-187,000 RMB/ton, and the quotation was temporarily stable.

Analysis review

The cobalt market was stabilizing. The production and sales volume of ternary batteries had increased month on month; The growth of emerging markets such as digital wearables was slow, and the demand for cobalt in the market was increasing; The import volume of cobalt raw materials had increased, and the supply in the cobalt market was sufficient; The recovery of cobalt salt supply, the fluctuation and stabilization of cobalt salt prices, and the stabilization of lithium cobalt oxide prices had stabilized the cobalt market; The international cobalt price fluctuated and consolidated, weakening the bearish sentiment on the domestic cobalt market; The overall upward momentum of the cobalt market had weakened, and downward pressure still existed.

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