Cobalt prices fluctuated and fell after the holiday

According to the cobalt market analysis system of SunSirs, on February 20th, the cobalt price was 216,800 RMB/ton, a decrease of 0.32% compared to February 1st's cobalt price of 217,500 RMB/ton; Compared to the cobalt price of 217,200 RMB/ton on February 9th, the price decreased by 0.18%. The resumption of work and production after the holiday was not satisfactory, and the demand for cobalt in the market was weak. The price of cobalt continued to decline after the holiday, and the price of cobalt fluctuated and fell.

The resumption of work and production was not satisfactory, and the demand for cobalt in the market remained weak

After the festival, the downstream resumed work, and the logistics had not yet fully recovered. Some enterprises planned to resume production after Lantern Festival. Most of them stopped production for maintenance. Downstream stocking before the holiday, inventory still existed, downstream customer restocking was limited after the holiday, and actual transactions in the spot market were scarce.

The traditional off-season for new energy vehicles had not seen a recovery in high economic development after the holiday season. The production of battery factories and upstream raw material manufacturers had increased, and there was still uncertainty in cobalt demand. Consumer electronics remained weak, and corporate procurement enthusiasm was insufficient. The demand for cobalt in the market was cold.

Overview and Outlook

According to data analysts from SunSirs, the resumption of work and production after the holiday was not satisfactory, and the demand for cobalt in the market remained cold, while the supply in the cobalt market was sufficient. Overall, the oversupply and weak demand in the cobalt market are expected to lead to a weak consolidation of cobalt prices in the future.

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