SunSirs: Summary of Domestic Cobalt Market Trends on October 22nd

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

Price trend

On October 22nd, the domestic price of cobalt metal was 162,000-194,000 RMB/ton, with a weak and temporarily stable price.

Analysis review

The cobalt market was weak and consolidating, with a slow increase in the production and sales of ternary batteries; The slow growth of emerging markets such as digital wearables and the increasing demand for cobalt in the market; Stable import of cobalt raw materials and sufficient supply in the cobalt market; 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 had weakened, and downward pressure still existed.

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