Price trend

On June 4th, the domestic cobalt metal quotation was 201,000-256,000 RMB/ton, with weak consolidation.

Analysis review

The cobalt market was weak and stabilizing, with a year-on-year decrease in the production and sales volume of ternary batteries, as well as a decrease in the proportion of ternary batteries installed in vehicles; Emerging markets such as digital wearables were slowly growing, global mobile phone product shipments were increasing, domestic mobile phone sales were rising, and demand for cobalt was growing; The imported volume of cobalt raw materials had increased, and the supply of cobalt in the market was sufficient. The production of cobalt ore by Morocco's largest mining company had decreased, and the supply of cobalt in the market had decreased; The supply of cobalt salts had resumed, and the price of cobalt salts had stabilized due to fluctuations. The price of lithium cobalt oxide temporarily stabilized, and there was still a bearish outlook on the cobalt market.

Overall, the upward momentum of the cobalt market had weakened, and downward pressure still existsed.

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