After the holiday, domestic cobalt prices stopped falling and stabilized

According to the cobalt market analysis system of the SunSirs, the cobalt price on May 9th was 211,300 RMB/ton, which decreased and then increased compared to the cobalt price of 213,100 RMB/ton on May 1st, with an overall slight decrease of 0.84%. Cost support still existed, and demand support was limited. Cobalt prices had stopped falling and stabilized.

Analysis review

Demand support still existed

During the traditional peak season of "Golden March and Silver April", the production and sales of new energy vehicles had 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 was relatively weak, and the market demand performance was weak. In the field of high-temperature alloys, downstream procurement attitudes had shifted from cautious to positive. The demand support in the cobalt market still existed, and the downward pressure on cobalt prices had weakened.

MB cobalt alloy grade cobalt stopped falling and rebounded

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 had risen, providing some upward support for the domestic cobalt market.

Market outlook

SunSirs’ data analysts believe that cost support was limited and demand support still existed; In the international market, the rebound of international cobalt prices had provided some support for the domestic cobalt market. It is expected that cobalt prices will stop falling and stabilize in the future.

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