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

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

Price trend

On October 11th, the domestic metal cobalt price was 163,000-191,000 RMB/ton, with a strong consolidation of the price and a stabilizing cobalt market.

Analysis review

The production and sales volume of ternary batteries have increased month on month; The slow growth of emerging markets such as digital wearables and the increasing demand for cobalt in the market; The import volume of cobalt raw materials has increased, and the supply in the cobalt market is sufficient; The supply of cobalt salts has recovered, and the price of cobalt salts has fluctuated and fallen. The price of lithium cobalt oxide has stabilized, which has 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 has weakened, and downward pressure still existed.

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