Cobalt prices in the Chinese market rose on November 10

On November 10, the domestic cobalt price rose and the cobalt market rebounded. On November 10, the cobalt price was 423900.00 yuan/ton, an increase of 1.12% from the previous trading day (November 9), which was 419200.00 yuan/ton.

Cobalt market analysis

Domestic cobalt salt prices are slowly rising; the production and sales of new energy vehicles have risen, and the production and sales of ternary batteries have increased sharply from the previous month, and the proportion of installed capacity of ternary batteries has decreased. Ushered in an outbreak. International cobalt prices have risen; international electricity prices and energy prices have risen, cobalt mining and transportation costs have risen; the cobalt market has increased momentum.

Market summary

The balance of supply and demand in the cobalt market is still there. There is more rational investment in the cobalt market. There is no room for cobalt prices to skyrocket and plummet. Sales of new energy vehicles are expected to explode in 22 years. Car companies book lithium battery orders in advance. The upward momentum is relatively large, and the cobalt price is expected to fluctuate upward in the future.

Related listed companies: Huayou Cobalt (603799), Hanrui Cobalt (300618), Luoyang Molybdenum (603993).

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