Cobalt prices fluctuated and fell this week
According to the Commodity Market Analysis System of the Business Society, as of August 22, the cobalt price was 261400 yuan/ton, a decrease of 3.44% from the cobalt price of 270700 yuan/ton on August 13; The cobalt price decreased by 8.38% compared to 285300 yuan/ton on August 1st. The arrival of cobalt raw materials in Hong Kong has decreased, and the supply and demand in the cobalt market have decreased. The supply and demand in the cobalt market are both weak, and the cobalt price has fluctuated and fallen this week.
The import volume of cobalt raw materials has decreased
According to the Commodity Market Analysis System of the Business Society, the trend of cobalt prices has continued to decline this week, but this week’s decline has decreased compared to last week’s decline, and the decline in cobalt prices has a contracting trend. Moreover, the cobalt price has hit a bottom of 250000 yuan, and there is limited room for its decline. The cobalt price has a trend of bottoming out and rebounding.
The sales of new energy vehicles have decreased month on month, and the expected demand growth in the cobalt market has decreased. The installed capacity of ternary batteries has increased month on month, but the demand growth in the cobalt market remains the same; The import volume of cobalt raw materials decreased on a month on month basis, and the supply of cobalt in the market is expected to decrease.
Overview and outlook
According to Bai Jiaxin, a data analyst at Business Society, the supply expectation for cobalt in the market has decreased, and demand growth is less than expected. It is expected that the decline in cobalt prices will slow down in the future, with low volatility and consolidation.
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