SunSirs: Summary of Domestic Cobalt Market Trends on October 25th

https://www.chemnet.com   Oct 28,2024 SunSirs

Price trend

On October 25th, the domestic metal cobalt quotation was 161,000-191,000 RMB/ton, with a weak adjustment in the quotation and a weak adjustment in the cobalt market.

Analysis review

The production and sales volume of ternary batteries were slowly increasing; Emerging markets such as digital wearables were growing slowly, while demand in the cobalt market remained stable; 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; The overall upward momentum of the cobalt market had weakened, and downward pressure still existed.

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