Price trend

According to the data monitoring of SunSirs, as of February 23, the domestic cobalt price was 297,600 RMB/ton, up 0.40% from the price of 296,400 RMB/ton on February 22 of the previous trading day. The supply risk remained, and the rise of domestic cobalt price slowed down on February 23.

Analysis review

The flood in South Africa affected the transportation. Since February, the power crisis in South Africa had intensified, and the risk of supply shortage in the cobalt market would increase in the short term. In addition, the demand in the domestic cobalt market had warmed, and the domestic cobalt price will rise in shock in the short term.

Market outlook

The risk of supply shortage in the cobalt market remained, and it is expected that the cobalt price will stabilize after strong shocks in the future.

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