Domestic cobalt prices have stopped rising and fell this week

According to data monitoring from SunSirs, as of April 21, cobalt prices were 271,600 RMB/ton, a decrease of 0.29% compared to April 14, when cobalt prices were 272,400 RMB/ton. The cobalt price decreased by 1.77% compared to the price of 276,500 RMB/ton on April 19th; The cobalt price decreased by 6.57% compared to the price of 290,700 RMB/ton on April 1st. International cobalt prices plummeted, and cobalt prices briefly rose and then fell back this week.

International cobalt prices plummeted

From the trend chart of MB cobalt price, it can be seen that MB cobalt price significantly decreased this week, and international cobalt prices stopped rising and fell, which was negative for the domestic cobalt market, and domestic cobalt prices stopped rising and fell.

Market outlook

According to data analysts from SunSirs, the international cobalt price has stopped rising and plummeted this week, the international cobalt market was bearish, with a relatively balanced supply and demand in the cobalt market. The downward pressure on the domestic cobalt market was increasing, and cobalt prices stopped rising and fell this week. In the future, the supply and demand of cobalt in the market are relatively balanced, and there are still bearish effects in the cobalt market. It is expected that cobalt prices will fluctuate downward slightly in the future.

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