After the holiday, domestic cobalt prices stopped falling and stabilized

After the holiday, domestic cobalt prices stopped falling and stabilized

According to the cobalt market analysis system of the Business Society, the cobalt price on May 9th was 211300 yuan/ton, which decreased and then increased compared to the cobalt price of 213100 yuan/ton on May 1st, with an overall slight decrease of 0.84%. Cost support still exists, and demand support is limited. Cobalt prices have stopped falling and stabilized.

Demand support still exists

During the traditional peak season of “Golden Three Silver Four”, the production and sales of new energy vehicles have rebounded, driving an increase in demand for ternary materials and stimulating demand in the cobalt market. The demand support for cobalt in the 3C electronic product field is relatively weak, and the market demand performance is weak. In the field of high-temperature alloys, downstream procurement attitudes have shifted from cautious to positive. The demand support in the cobalt market still exists, and the downward pressure on cobalt prices has weakened.

MB cobalt alloy grade cobalt stops falling and rebounds

According to the trend chart of MB cobalt prices, it can be seen that in May, MB cobalt prices fluctuated and fell, standard grade cobalt prices slightly declined, and alloy grade cobalt rebounded and rose. The international cobalt price has risen, providing some upward support for the domestic cobalt market.

Overview and Outlook

Business Society data analysts believe that cost support is limited and demand support still exists; In the international market, the rebound of international cobalt prices has provided some support for the domestic cobalt market. It is expected that cobalt prices will stop falling and stabilize in the future.