SunSirs: Summary of Domestic Cobalt Market Trends on October 24th

https://www.chemnet.com   Oct 25,2024 SunSirs

Price trend

On October 24th, the domestic metal cobalt quotation was 162,000-194,000 RMB/ton, with weak consolidation in the quotation and weak consolidation in the cobalt market.

Analysis review

The production and sales volume of ternary batteries were slowly increasing; 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 also fallen, which had led to a decline in the cobalt market; The international cobalt price fluctuated and consolidated, weakening the bearish sentiment on the domestic cobalt market.

Overall, the upward momentum of the cobalt market had weakened, and downward pressure still existed.

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