SunSirs: Summary of Domestic Cobalt Market Trends on October 29th

https://www.chemnet.com   Oct 30,2024 SunSirs

Price trend

On October 29th, the domestic price of cobalt metal was 161,000-191,000 RMB/ton, with fluctuating and stabilizing prices, and the cobalt market fluctuated and stabilized.

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 salt had recovered, and the price of cobalt salt had fluctuated and fallen. The price of lithium cobalt oxide had stabilized, which had weakened and 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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