SunSirs: Summary of Domestic Cobalt Market Trends on November 1st

https://www.chemnet.com   Nov 04,2024 SunSirs

Price trend

On November 1st, 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.

Market outlook

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 remains 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 stabilized. The price of lithium cobalt oxide had fallen, which had led to a weak decline in the cobalt market; The weak consolidation of international cobalt prices still posed a negative impact on the domestic cobalt market; The overall upward momentum of the cobalt market had weakened, and downward pressure still existed.

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