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

https://www.chemnet.com   Oct 21,2024 SunSirs

Price trend

On October 18th, the domestic metal cobalt quotation was 163,000-194,000 RMB/ton, and the quotation was temporarily stable. The cobalt market situation was temporarily stable.

Analysis review

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 of cobalt raw materials was stable, and the cobalt market had sufficient supply; The supply of cobalt salts had recovered, and the price of cobalt salts had fluctuated and fallen. The price of lithium cobalt oxide had stabilized, which 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 still existed, and the downward pressure had weakened.

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